March 7 (SeeNews) - Bulgarian financial and insurance group Starcom Holding [BUL:S28H] reported on Tuesday a consolidated net profit excluding minority interests of 15.2 million levs ($8.28 million/7.77 million euro) for 2022, up from 11.06 million levs a year earlier.
The company’s revenue surged to 6.46 billion levs last year from 3.82 billion levs in 2021, Starcom said in a financial statement.
At the same time, operating expenses expanded to 6.15 billion levs from 3.62 billion levs as cost of goods sold surged to 2.95 billion levs from 1.12 billion levs.
In the period under review, Starcom acquired Swiss Global Asset Management. In October, the company also purchased a 30% stake in Bulgaria’s Solars Energy.
As of the end of 2022, Starcom held 50.08% of Eurohold Bulgaria [BUL:4EH], slightly down from 50.65% a year earlier.
Other majority- or fully-owned subsidiaries of Starcom are Bulgarian lender First Investment Bank's Russian division, London-based Hanson Asset Management, Starcom Finance and Hong Kong-registered Quintar Capital Limited.
(1 euro = 1.95583 levs)