Bulgaria's HES sees 22% fall in Jan-May sales

Sales in May alone are forecast at some 5.85 million levs ($3.25 million/2.99 million euro), HES said in a stock exchange filing.

In the first four months of 2024, the company's revenue fell by 20% year-on-year, while its preliminary gross profit came in at some 2.29 million levs. Sales in April alone stood at 6.56 million levs, with preliminary profit totalling 383,000 levs.

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

As of 1110 CEST on Tuesday, shares in HES traded flat at 5.75 levs on the Bulgarian Stock Exchange.

(1 euro = 1.95583 levs)