May 30 (SeeNews) - Bulgarian printing and advertising company Billboard [BUL:BBRD] said that its consolidated net profit after minority interest increased to 337,000 levs ($184,600/172,300 euro) in the first quarter of 2023 from 279,000 levs in the same period of last year on the back of a decrease in expenses.
The company's revenue fell to some 9.2 million levs in the January-March period from 9.7 million levs a year earlier, Billboard said in an interim financial statement on Monday. Of that, product sales generated 8.8 million levs, down from 9.3 million levs.
In the first quarter, the company's earnings before interest, taxes, depreciation and amortisation (EBITDA) totalled 1.2 million levs compared to 972,000 levs in the like period of 2022.
Operating expenses narrowed to 8.7 million levs from 9.2 million levs, mainly due to a 20% decline in costs for materials.
Billboard, established in 2001, offers wide-format digital printing, offset printing and branding of vehicles, among other services.
Shares in Billboard last traded on May 18 when they closed at 0.256 levs on the Bulgarian Stock Exchange, bourse data show.
(1 euro = 1.95583 levs)