December 2 (SeeNews) - Diversified group Zarneni Hrani Bulgaria [BUL:ZHBG] said that its consolidated net profit excluding minority interests dropped to 3.15 million levs ($1.7 million/1.6 euro) in the first nine months of 2022 from 3.85 million levs in the like period of 2021.
At 4.22 million levs, after-tax profit in the review period was flattish compared with 4.3 million levs recorded in January-September 2021, the company said in an interim financial statement earlier this week.
In the nine months to end-September, Zarneni Hrani Bulgaria grew its operating revenue to 76.3 million levs from 61.1 million levs a year earlier.
Production sales, which make up the bulk of the revenue, were 40% higher than a year ago at 56.4 million levs.
Operating expenses jumped 28% year-on-year to 69.3 million levs, due to increases in expenses for materials and hired services. The company's cost of goods sold expanded to 22.5 million levs from 13.7 million levs in the prior-year period.
Zarneni Hrani Bulgaria's assets edged down to 415.6 million levs at the end of September from 416.1 million levs a year earlier.
The company consolidates the results of 20 subsidiaries active in various sectors of the economy, including oil and gas exploration, petroleum refining, port operations and grain trading.
(1 euro = 1.95583 levs)