May 31 (SeeNews) - Bulgarian express delivery company Speedy [BUL:SPDY] said on Monday that its consolidated net profit more than doubled to 8.1 million levs ($5 million/4.1 million euro) in the first quarter of 2021 from 4 million levs in the same period of 2020.
Speedy's revenue soared to 77.9 million levs in the first three months of the year from 59.4 million levs in the comparable period of 2020, the company said in an interim financial statement.
Sales revenue in Bulgaria rose 31.7% to 40.6 million levs, while sales revenue on foreign markets grew 33.7% to 35 million levs.
The number of completed deliveries grew by an annual 36.8% to 14.7 million.
Speedy's expenses rose to 68.5 million levs from 54.9 million levs due to higher expenses for hired services and personnel costs.
Earlier this month, Bulgaria's Financial Supervision Commission allowed the publication of a revised buyout offer by France's Geopost for the remaining 1,623,711 shares it does not own in Seepdy. Geopost is offering to pay 80 levs per share for the 30.19% interest it wants to acquire.
As at 12:10 CET on Monday, shares in Speedy traded at a price of 80 levs, unchanged from their previous closing price on the Bulgarian Stock Exchange.
(1 euro = 1.95583 levs)