February 25 (SeeNews) - Bulgarian express delivery company Speedy [BUL:SPDY] said on Thursday that its consolidated net profit grew to 31 million levs ($19.4 million/15.9 million euro) in 2020 from 19 million levs in 2019 on the back of higher revenue.
Speedy's revenue increased to 282 million levs last year from 229 million levs in 2019, the company said in an annual financial statement.
Sales revenue on foreign markets jumped 37% to 132.5 million levs, while domestic sales revenue added 14.6% to 140 million levs. The number of completed deliveries grew 31.8% to 52.2 million last year.
Speedy's expenses rose to 246.9 million levs from 207.6 million levs in 2019, mostly due to higher expenses for hired services.
Earlier this year, France's Geopost published a buyout bid priced at 58.67 levs per share for the remaining 75.19% stake in Speedy it does not own and exercised a a call option towards the majority shareholder of Speedy - Speedy Group, for a 45% stake.
(1 euro = 1.95583 levs)