Bulgaria's Stara Planina Hold 9-mo cons net profit shrinks 10% y/y

Stara Planina Hold's revenue in January-September grew to 306.1 million levs from 289.4 million levs a year earlier, the company said in an interim financial statement. Sales generated 304.2 million levs in the review period, up 8% year-on-year.

In parallel, operating expenses widened to some 262.7 million levs from 247.5 million levs on the back of higher remuneration costs and a change in inventory.

The company expects its consolidated sales revenue for the whole year to edge down by an annual 1% to 374 million levs, it said.

Stara Planina Hold consolidates the results of machine engineering companies M+S Hydraulic [BUL:MSH] and Hydraulic Elements and Systems [BUL:HES] as well as cosmetics maker Bulgarian Rose [BUL:ROZA] and battery manufacturer Elhim Iskra [BUL:ELHM], among others.

Shares in Stara Planina Hold last traded on Monday when they closed at 10.10 levs on the Bulgarian Stock Exchange, bourse data show.

(1 euro = 1.95583 levs)