December 1 (SeeNews) - Bulgarian diversified group Synthetica [BUL:SYN] said its consolidated net profit rose to 720,000 levs ($384,247/368,130 euro) in the first nine months of 2022 from 296,000 levs in the same period of last year.
The company’s revenue climbed to 11.56 million levs in the nine months through September from 9.97 million levs a year earlier, Synthetica said in an interim financial statement earlier this week.
At the same time, operating expenses fell to 7.52 million levs from 9.79 million levs thanks to lower cost of materials, decreased spending for external services and lower remuneration expenses.
Earlier this year, the company acquired CEZ ESCO Bulgaria, which was rebranded as ESCO Bulgaria. The unit has over 50 MWp of solar photovoltaic parks built or under development.
As at CET 1055 on Thursday, shares in Synthetica traded flat at 50 levs on the Bulgarian Stock Exchange.
(1 euro = 1.95583 levs)