September 1 (SeeNews) - Bulgarian IoT products developer Allterco [BUL:A4L] said that its consolidated net profit excluding minority interest rose to some 7 million levs ($4.2 million/3.6 million euro) in the first half of 2021, from 2.9 million levs in the same period of 2020.
Allterco’s consolidated revenue amounted to 28.8 million levs in the first six months of 2021, up from 18.6 million levs a year earlier, mainly due to an increase in the revenue from the sale of goods, to 26.1 million levs from 14.2 million levs, Allterco said in an interim financial statement earlier this week.
The company's operating expenses went up to 21 million levs in the review period, from 15.35 million levs the year before, as cost of goods sold doubled - to almost 12 million levs from 6.1 million levs.
Allterco said earlier that its consolidated sales of IoT devices and related services in the first half of 2021 jumped by an annual 75% to 26.2 million levs. The sales of devices from the home automation brand Shelly rose 66% on the year in the January-June period, while sales from the kids smartwatches brand MyKi surged 4,100%, Allterco said.
As at 15:00 CET on Wednesday, shares in Allterco traded 1.15% higher at 17.60 levs on the Bulgarian Stock Exchange, bourse data showed.
(1 euro = 1.95583 levs)