January 30 (SeeNews) - Bulgaria's Tchaikapharma High Quality Medicines [BUL:THQM] said on Monday that its non-consolidated net profit more than doubled to 2.9 million levs ($1.61 million/1.48 million euro) in 2022 from 1.4 million levs in 2021.
Revenue increased to 44.25 million levs last year from 43.06 million levs in 2021, the company said in a financial statement.
According to the figures, sales climbed to 42.96 million levs from 42.43 million levs.
At the same time, operating expenses went down to 40.5 million levs from 41.1 million levs thanks to lower costs of materials.
As of the end of 2022, Tchaikapharma employed 163 people after 164 people a year earlier. The company is currently manufacturing over 150 pharmaceutical products. Since the start of 2022, its development efforts have been focused on products for the treatment of cardiovascular disease and a therapy for diabetic conditions.
As at 1406 CET on Monday, shares in Tchaikapharma traded flat at 16.20 levs on the Bulgarian Stock Exchange.
(1 euro = 1.95583 levs)