Bulgaria's Tchaikapharma raises non-cons net profit 38% in 2023

The company’s total operating revenue rose to 49.1 million levs last year from 44.4 million levs in 2022, Tchaikapharma said in a financial statement last week. Of that, 45.7 million levs were generated from product sales, up 12% in annual terms.

In parallel, operating expenses widened to 44.8 million levs in the review period from 41.3 million levs a year earlier, on the back of higher costs for hired services and a change in inventory.

At the end of 2023, Tchaikapharma employed 191 people, compared to 163 at the end of 2022, the statement added. The company has a portfolio of over 150 products.

Shares in Tchaikapharma last traded on Wednesday when they closed at 17.20 levs on the Bulgarian Stock Exchange, bourse data show.

(1 euro = 1.95583 levs)