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Nov 27, 2023 15:33 EEST
November 27 (SeeNews) - Bulgarian hydraulic equipment manufacturer M+S Hydraulic [BUL:MSH] said on Monday that its consolidated net profit after minority interest went up to 33.1 million levs ($18.5 million/16.9 million euro) in the nine months through September from some 28.4 million levs in the like period of 2022.
M+S Hydraulic's operating revenue leapt to 194.8 million levs in January-September from 167.5 million levs a year earlier, the company said in an interim financial statement. Product sales generated 180.7 million levs, up 14% in annual terms, whereas sales of goods more than trebled to 11.2 million levs.
Meanwhile, the company's expenses increased to 156.6 million levs in the review period from some 135.8 million levs in the first nine months of last year on the back of higher costs for remuneration and a change in inventory.
The consolidated report includes the results of M+S Hydraulic and its subsidiaries Lifam Hidravlika in Serbia, M+S Hydraulic GmbH in Germany and Oleotecno Hydraulic Components in Italy.
M+S Hydraulic is an affiliate of diversified group Stara Planina Hold [BUL:SPH].
As of 1430 CET on Monday, shares in the company traded flat at 10.90 levs on the Bulgarian Stock Exchange.
(1 euro = 1.95583 levs)
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