February 24 (SeeNews) - Bulgarian hydraulic equipment manufacturer M+S Hydraulic [BUL:MSH] said on Thursday that its consolidated net profit rose to 19.6 million levs ($11.3 million/10 million euro) in 2021 from 15.5 million levs the previous year.
M+S Hydraulic's revenue went up to 153.8 million levs last year from 111.5 million levs in 2020, the company said in a bourse filing.
The company's expenses grew to 131.9 million levs from 94.2 million levs, mostly due to higher expenses for materials and salaries.
As at 14:50 CET on Thursday, shares in M+S Hydraulic traded down 4.92% at 8.70 levs on the Bulgarian Stock Exchange.
M+S Hydraulic is an affiliate of blue-chip diversified group Stara Planina Hold [BUL:SPH].
(1 euro = 1.95583 levs)