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Bulgaria's HES misses H1 sales fcast, eyes 5.54% rise in 7-mo sales

Author Mario Tanev
Bulgaria's HES misses H1 sales fcast, eyes 5.54% rise in 7-mo sales Photo: Hydraulic Elements and Systems / All rights reserved.

SOFIA (Bulgaria), July 22 (SeeNews) - Bulgarian machine engineering company Hydraulic Elements and Systems (HES) [BUL:4HE] said that its first-half sales revenue grew by an annual 8.00% to 34.9 million levs ($20.0 million/17.8 million euro), missing the company's forecast for a 8.55% rise.

HES generated a gross profit of 3.44 million levs in the first six months of the year, of which 416,000 levs in June alone, the company said in a bourse filing last week.

The company expects to book sales of 4.62 million levs in July, which will result in a 5.54% rise in its January-July sales.

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

(1 euro=1.95583 levs)

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