Zarneni Hrani Bulgaria cons net profit soars 82% in 2023

At some 5.9 million levs, after-tax profit in the review period was 45% higher in annual terms, Zarneni Hrani Bulgaria said in a financial statement at the end of February.

Total revenue last year dropped to 78.2 million levs from 95.3 million levs in 2022. Product sales generated 33 million levs in revenue, down 33% year-on-year, while sales of goods slightly rose to 27.7 million levs from 27 million levs.

The company's operating expenses shrank to 71.9 million levs from 90.5 million levs, mainly due to costs for materials, which halved to 12.9 million levs.

Zarneni Hrani Bulgaria consolidates the results of 18 subsidiaries active in various sectors of the economy, including oil and gas exploration, petroleum refining, port operations and grain trading.

Shares in the company last traded on Monday when they closed at 0.13 levs on the Bulgarian Stock Exchange, bourse data show.

(1 euro = 1.95583 levs)