January 30 (SeeNews) - Bulgarian sugar and confectionery producer Zaharni Zavodi [BUL:ZHZA] said on Monday that its non-consolidated net profit soared to 12.6 million levs ($7 million/6.44 million euro) last year from 1.68 million levs in 2021.
Revenue in the review period rose to 102 million levs from 67.8 million levs the previous year, the company said in an interim financial statement.
Zaharni Zavodi's sales jumped 36% in annual terms to 91.3 million levs. The Bulgarian market held a 56% share of all sales, while sales in the EU amounted to 36%.
Operating expenses grew to 89.4 million levs from 65.9 million levs, mainly due to higher costs for materials, which climbed to 60.5 million levs against 41.2 million levs in 2021.
According to a bourse filing, the company made a final 6.83 million levs payment on the principal of its 18.8 million lev bond over the weekend.
Shares in Zaharni Zavodi last traded at 3.72 levs on the Bulgarian stock exchange.
(1 euro = 1.95583 levs)