July 5 (SeeNews) - Coca-Cola Hellenic Bottling Company Bulgaria said that its net profit rose to 73.5 million levs ($42.3 million/37.6 million euro) in 2018 from 66.9 million levs in 2017, backed by higher revenue.
Coca-Cola HBC Bulgaria's sales grew to 434.3 million levs last year from 383.4 million levs in 2017, the company said in an annual financial statement.
Almost all of the company's sales - 431.7 million levs, were generated on the local market in 2018.
Cost of goods sold increased to 249.4 million levs from 219.2 million levs.
Selling and distribution costs rose to 78.7 million levs in 2018 from 67.7 million levs the year before, while administrative expenses edged up to 22.5 million levs from 22.1 million levs.
The company's assets increased to 266.4 million levs at the end of 2018 from 259.7 million levs a year earlier.
Earlier this year, Coca-Cola HBC Bulgaria decreased its registered capital to 1.08 million levs from 18.42 million levs via a reverse stock split.
Coca-Cola HBC Bulgaria, part of Swiss-based holding Coca-Cola HBC AG, employed 1,074 people in 2018, compared to 1,035 people in 2017.
Coca-Cola HBC is a leading bottler of the Coca-Cola company. In Southeast Europe, the company operates in Croatia, Slovenia, Romania, Bosnia and Herzegovina, Moldova, Macedonia, Serbia, Kosovo, and Montenegro.
(1 euro = 1.95583 levs)