February 21 (SeeNews) - Bulgarian machine engineering company Hydraulic Elements and Systems (HES) [BUL:HES] said on Tuesday that its sales revenue rose by 19.9% year-on-year in January, reaching 8.98 million levs ($4.90 million/4.59 million euro).
HES booked a preliminary gross profit of 775,000 levs in January, the company said in a bourse filing.
Sales in February are expected to come in at 8.3 million levs, which would result in a 17.3% annual rise in sales for the first two months of 2023.
Yambol-based HES is part of local industrial group Stara Planina Hold [BUL:SPH].
As of 1125 CET on Tuesday, shares in HES traded 1.49% lower at 6.60 levs on the Bulgarian Stock Exchange.
(1 euro = 1.95583 levs)