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Bulgaria's HES boosts 2018 net profit 17.6% on higher revenue

Bulgaria's HES boosts 2018 net profit 17.6% on higher revenue wrangler/Shutterstock.com

SOFIA (Bulgaria), January 31 (SeeNews) - Bulgarian machine engineering company Hydraulic Elements and Systems (HES) [BUL:4HE] said that its net profit increased 17.6% year-on-year to 5.3 million levs ($3.1 million/2.7 million euro) in 2018.

The company's revenue rose to 62.3 million levs last year from 55.2 million levs in 2017, HES said in an annual financial statement on Wednesday.

Expenses totalled 56.5 million levs in 2018, up from 50.2 million levs the year before, as expenses for materials grew.

HES is part of blue-chip industrial group Stara Planina Hold [BUL:5SR].

(1 euro=1.95583 levs)

 

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