August 23 (SeeNews) - Bulgarian express delivery company Speedy [BUL:SPDY] said that its consolidated net profit grew to some 16.4 million levs ($8.3 million/8.4 million euro) in the first half of 2022 from 14.2 million levs in the same period of 2021.
Speedy's revenue increased to 180.6 million levs in the first six months of the year from 156.6 million levs in the first half of 2021, the courier company said in an interim financial statement on Monday.
Domestic sales revenue jumped 19.9% on the year to some 91 million levs, while revenue from foreign markets added 13.6% to 86.3 million levs.
Despite the war in Ukraine, which has shrunk demand on Speedy's markets in Europe, the company's Romanian business continued to book a rise of over 10%, it said. Speedy's CEE Economy services to Hungary, Croatia, Slovenia, Slovakia, Czechia and Poland as well as deliveries to other EU countries marked a negligible decline, against the background of increasing competition from new sector players which also led to Speedy's expansion in regional deliveries.
Speedy Balkan, which provides deliveries to and from Romania, Greece, Bulgaria and Hungary was the fastest growing segment in the second quarter, after a recovery of activity since the first three months of 2022.
The total number of completed deliveries was 31.135 million in the January-June period, against 29.208 million in the prior-year period.
Expenses at Speedy climbed to some 161 million levs in the review period from 138.9 million levs in the first half of last year, as costs for materials, hired services and personnel all increased.
Shares in Speedy closed flat at 112.00 levs on the Bulgarian Stock Exchange on Monday.
(1 euro = 1.95583 levs)