Bulgaria's HES fcasts 17% drop in Q4 sales on worsening business sentiment

The economic slowdown in Western Europe has led to a decline in the region's business sentiment, which already cost the company a 5.23% decrease in its sales in the third quarter, HES said in an interim financial statement.

HES expects is full-year sales to amount to some 61 million levs, just slightly down from 61.9 million levs generated in 2018, thanks to the company's strong first half of 2019.

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

(1 euro = 1.95583 levs)