July 8 (SeeNews) - Consumer electronics retailer Technopolis Bulgaria said that its net profit fell to 21.3 million levs ($12.2 million/10.9 million euro) in 2018 from 33.2 million levs the year before, as personnel expenses grew significantly.
The company's personnel expenses amounted to 57.3 million levs last year, up from 34.2 million levs in 2017, Technopolis said in an annual financial statement.
Technopolis' sales grew 9.83% to 561.4 million levs in 2018, while cost of goods sold added 9.45% to 445.4 million levs.
Expenses for hired services rose to 26.9 million levs from 25.0 million levs.
The company's assets decreased to 258.3 million levs at the end of 2018 from 264.8 million levs a year earlier.
Technopolis operates 33 stores located in 25 cities in Bulgaria.
Technopolis is a wholly-owned unit of local Videolux Holding.
(1 euro = 1.95583 levs)