May 19 (SeeNews) - Romanian software solutions and cloud services provider Bento [BSE:BENTO] said that its net profit rose 34% year-on-year to 835,510 lei ($181,070/167,820 euro) in the first three months of 2023.
Bento's turnover climbed 35% on the year to 4.35 million lei in the first quarter, the company said in a financial report filed with the Bucharest Stock Exchange on Thursday.
Bento's operating profit rose by an annual 87% in the three months through March, reaching 1 million lei. Total revenue doubled to 8.54 million lei, while total expenses saw a 107% annual increase to 7.52 million lei.
For 2023, Bento budgets an annual rise of 65% in net profit, to 9.26 million lei. Also, the company expects turnover to increase 11% to 32 million lei this year.
Bento started trading on the AeRO market of the Bucharest Stock Exchange in March last year and currently has a market capitalisation of 71.28 million lei.
The company was founded in 2004 under the name 2B Intelligent Soft. It is active in software development, IT, infrastructure, and cloud services.
Bento's shares traded 3.7% lower at 5.2 lei as of 1134 CET on Friday on the Bucharest bourse.
(1 euro=4.97879 lei)