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Sep 21, 2023 15:11 EEST
September 21 (SeeNews) - Bulgarian machine engineering company Hydraulic Elements and Systems [BUL:HES] said on Thursday that it expects sales revenue for the January-September period to record a 6.03% decline compared to the like period of last year.
Sales for the month of September are projected at 6.87 million levs ($3.7 million/3.5 million euro), while sales in August alone amounted to 3.15 million levs, HES said in a stock exchange filing.
In the eight months through August, the company generated revenue from sales of 61.7 million levs. This represented an annual decrease of 5.2%, roughly in line with the 5.3% projected last month. Gross profit came in at 3.45 million levs for January-August.
HES also said that it swung to a preliminary net loss of 349,000 in the months of July and August.
Yambol-based HES is part of local industrial group Stara Planina Hold [BUL:SPH].
Shares in HES closed flat at 6.40 levs in its most recent trading on Wednesday, Sofia bourse data showed.
(1 euro = 1.95583 levs)
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