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Bulgaria's Speedy Q1 non-cons net profit shrinks 13% y/y on higher expenses

Bulgaria's Speedy Q1 non-cons net profit shrinks 13% y/y on higher expenses Image source: Speedy JSC, LinkedIn.

SOFIA (Bulgaria), May 3 (SeeNews) - Bulgarian parcel delivery company Speedy [BUL:SPDY], part of French DPD group, said that its standalone net profit dropped to 5.5 million levs ($2.96 million/2.8 million euro) in the first three months of 2022 from 6.3 million levs in the same period of last year.

Speedy's first-quarter revenue increased to 56.8 million levs from 50.6 million levs in the first three months of 2021, the company said in an interim financial statement published on Monday.

At the same time, Speedy's expenses in the review period widened to 50.6 million levs from 43.6 million levs as the company spent more on hired services, mainly contractors, personnel remunerations and fuel costs.

Speedy expects its main markets, Bulgaria and Romania, to maintain the trend for a positive economic growth in 2022, with Greece marking a significant recovery.

(1 euro = 1.95583 levs)

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