February 28 (SeeNews) - Bulgarian express delivery company Speedy [BUL:0SP] said on Friday that its consolidated net profit rose to 20.9 million levs ($11.7 million/10.7 million euro) last year, from 10.0 million levs in 2018.
Speedy's total revenue grew to 230.0 million levs in 2019, from 183.7 million levs a year earlier, due to higher services revenue, the company said in an interim financial statement.
Domestic market sales revenue rose by an annual 14.3% to 121.8 million levs, while sales revenue abroad jumped 37.0% to 96.8 million levs.
The company made 39.6 million deliveries in 2019, up by an annual 27.0%, it said.
The delivery company's expenses increased to 206.2 million levs in the review period from 172.4 million levs the year before due to higher costs for hired services, amortisation and personnel costs.
Expenses for hired services, which represents the bulk of Speedy's expenses, grew to 120.1 million levs last year, from 101.4 million levs in 2018. Amortisation costs rose to 21.6 million levs from 17.5 million levs, while personnel costs increased to 38.4 million levs, from 30.8 million levs.
(1 euro = 1.95583 levs)