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Bulgaria's M+S Hydraulic increases net profit, revenue in 2021

Author Vasil Kolchev
Bulgaria's M+S Hydraulic increases net profit, revenue in 2021 Photo: Bulgarian Industrial Association

SOFIA (Bulgaria), January 28 (SeeNews) - Bulgarian hydraulic equipment manufacturer M+S Hydraulic [BUL:MSH] said that its standalone net profit rose to 18.8 million levs ($10.7 million/9.6 million euro) in 2021 from 15.2 million levs a year earlier.

The company's revenue also increased last year - to 151.9 million levs from 109.3 million levs in 2020, M+S Hydraulic said in an interim financial statement on Thursday.

At the same time, M+S Hydraulic's expenses grew to 131 million levs from 92.4 million levs, mostly due to higher costs of materials and increased salaries.

Last week, the hydraulic equipment maker said it expects its sales to rise by 5% year-on-year to 159 million levs in 2022.

At the end of 2021, the company's assets totalled 115.3 million levs, up from 100.5 million levs a year earlier, according to the statement.

Shares in M+S Hydraulic last traded on the Bulgarian Stock Exchange on Wednesday when they closed 2.78% lower at 8.75 levs, bourse data showed.

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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