May 11 (SeeNews) - Bulgarian hydraulic equipment manufacturer M+S Hydraulic [BUL:MSH] said that its net profit grew to 4.8 million levs ($3 million/2.5 million euro) in the first quarter of 2021 from 3.9 million levs in the same period of 2020.
M+S Hydraulic's revenue grew to 33.6 million levs in the first three months of the year from 28 million levs in the comparable period of 2020, it said in an interim financial statement, published after trading hours on Monday.
Expenses increased to 28.3 million levs from 23.6 million levs, mostly on the back of higher personnel costs and expenses for materials.
M+S Hydraulic is an affiliate of blue-chip diversified group Stara Planina Hold [BUL:SPH].
(1 euro = 1.95583 levs)