Bulgaria's TBS Group shrinks 9-mo cons net profit 18% y/y

TBS Group's total revenue grew to some 120.2 million levs in the nine months through September from 111.8 million levs in the prior-year period, the company said in an interim financial statement last week.

Sales of goods increased to 42.4 million levs from 40.4 million levs, whereas sales of services climbed to 68.3 million levs from 66.8 million levs.

At the same time, operating expenses widened to 112.6 million levs in the review period from 102.7 million levs a year earlier as a result of higher costs for hired services and remuneration, as well as foreign exchange losses.

The company's assets stood at some 101 million levs at the end of September, up from 78.4 million levs at the end of 2022.

Shares in TBS Group last traded on Monday when they closed at 9.20 levs on the Bulgarian Stock Exchange, bourse data show.

(1 euro = 1.95583 levs)