March 2 (SeeNews) - Bulgarian express delivery company Speedy [BUL:SPDY] said that its consolidated net profit increased to 36.2 million levs ($19.66 million/18.5 million euro) in 2022 from 32.4 million levs a year earlier.
Revenue rose to 396.6 million levs last year from 339.04 million levs in 2021, the company said in a financial statement on Wednesday.
Domestic sales grew by 25.9% on the year, reaching 210.6 million lev, while sales on foreign markets added 8.9% to 175.95 million levs. Speedy said it registered in 2022 record growth in deliveries in Bulgaria for the past years and a rise in regional service Speedy Balkan. Amid intensifying competition and unfavourable trends, however, the company faced slowing growth in its Romanian operations.
Excluding Speedy Balkan, the firm's international deliveries declined due to falling consumption in the rest of Europe and the war in Ukraine.
Operating expenses increased to 353.4 million levs in 2022 from 298.6 million levs a year earlier, mainly due to costs for external services, which rose to 212.5 million levs from 174.95 million levs.
As at CET 1039 on Thursday, shares in Speedy traded 0.93% higher at 108 levs on the Bulgarian Stock Exchange.
The company reported in January a non-consolidated net profit of 41.3 million levs for 2022, up from 29.9 million levs in the prior year.
(1 euro = 1.95583 levs)