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Bulgaria's M+S Hydraulic 5-mo sales come in slightly below f'cast

Bulgaria's M+S Hydraulic 5-mo sales come in slightly below f'cast Photo: M+S Hydraulic / All rights reserved.

SOFIA (Bulgaria), June 21 (SeeNews) - Bulgarian hydraulic equipment manufacturer M+S Hydraulic [BUL:MSH] said on Tuesday that it recorded a revenue of 83.1 million levs ($44.8 million/42.5 million euro) in the first five months of 2022, below its forecast of 83.75 million levs.

In May alone, M+S Hydraulic booked sales revenue of 17.2 million levs, the company said in a bourse filing. That was about 3.6% less than the revenue for May forecast a month earlier but exceeded the revenue generated in May 2021 by about 58%.

In the January-May period of 2021, the hydraulic equipment maker reported revenue of 56.9 million levs.

Total gross profit for the first five months of 2022 amounted to nearly 13.2 million levs, of which 1.995 million levs in May alone. This compares to a gross profit of 7.5 million levs in the January-May period of 2021, of which just 200,000 levs in May alone.

M+S Hydraulic expects to book sales revenue of 19.97 million levs in June, which would bring to 103.05 million levs its revenue projected for the first half of 2022, the company added.

M+S Hydraulic is an affiliate of blue-chip diversified group Stara Planina Hold [BUL:SPH].

(1 euro = 1.95583 levs)

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