July 23 (SeeNews) - Bulgarian machine engineering company Hydraulic Elements and Systems (HES) [BUL:4HE] said on Thursday that its gross profit and sales both fell by 21.9% year-on-year in the first half of 2020.
HES generated a gross profit of 3 million levs ($1.8 million/1.5 million euro) and sales of 27.3 million levs in the first six months of the year, it said in a bourse filing.
The company expects to generate sales of 3.5 million levs in July, which will deepen the decrease in its sales since the start of the year to 22.2%. HES then expects to book a further 2.4 million levs in August.
(1 euro = 1.95583 levs)