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Bulgaria's HES grows 9-mo sales 37% y/y, eyes 35% rise in 10-mo sales

Bulgaria's HES grows 9-mo sales 37% y/y, eyes 35% rise in 10-mo sales

SOFIA (Bulgaria), October 21 (SeeNews) - Bulgarian machine engineering company Hydraulic Elements and Systems (HES) [BUL:HES] said on Thursday that its sales revenue rose by 37.3% year-on-year in the first nine months of 2021, reaching 51 million levs ($30.4 million/26.1 million euro), after recording sales of 6.55 million levs in September.

Sales in October are expected to amount to 7 million levs, which would translate into a 34.9% annual increase in the company's sales for the first ten months of this year, HES said in a stock exchange filing.

As at 11:00 CET on Thursday, shares in HES traded flat at 6.80 levs on the Bulgarian Stock Exchange.

Yambol-based HES is part of local industrial group Stara Planina Hold [BUL:SPH].

(1 euro = 1.95583 levs)

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