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Bulgaria's M+S Hydraulic boosts 9-mo non-cons net profit on higher revenue

Bulgaria's M+S Hydraulic boosts 9-mo non-cons net profit on higher revenue Photo: M+S Hydraulic / All rights reserved.

SOFIA (Bulgaria), October 22 (SeeNews) - Bulgarian hydraulic equipment manufacturer M+S Hydraulic [BUL:5MH] said on Friday that its standalone net profit rose to 14.6 million levs ($8.7 million/7.5 million euro) in the first nine months of 2021 from 9.2 million levs a year earlier.

The company's revenue increased to 110.3 million levs in the January-September of this year from 76.4 million levs in the comparable period of 2020, M+S Hydraulic said in an interim financial statement.

At the same time, M+S Hydraulic's expenses went up to 94.1million levs in the first nine months of 2021 from 66.2 million levs in the like period of last year, mostly due to higher expenses for materials and salaries.

At the end of September, the company's assets totalled 108.85 million levs, up from 100.5 million levs a year earlier.

As at 14:45 CET on Friday, shares in M+S Hydraulic traded 1.16% higher at 8.75 levs on the Sofia bourse.

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

(1 euro = 1.95583 levs)

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