February 28 (SeeNews) - Bulgarian diversified group Stara Planina Hold [BUL:5SR] said that its consolidated net profit excluding minority interest fell by an annual 4.26% to 7.5 million levs ($4.4 million/3.8 million euro) in 2018.
The group's after-tax profit, including minority interest, added 3.6% year-on-year to 20.4 million levs last year, figures from the company's unaudited financial statement showed.
The difference in Stara Planina Hold's profit before and after minorities is to a large extent due to the fact that it owns just 30.61% of hydraulic equipment manufacturer M+S Hydraulic [BUL:5MH], which generated a consolidated net profit of 15.1 million levs in 2018.
Revenue amounted to 244.7 million levs in 2018, up from 219.5 million levs the year before.
Total expenses rose to 222.1 million levs last year from 197.5 million levs in 2017, after an increase in expenses for materials and cost of goods sold.
Stara Planina Hold consolidates the results of six subsidiaries and four affiliates. Stara Planina Hold owns majority stakes in machine engineering company Hydraulic Elements and Systems (HES) [BUL:4HE], car battery manufacturer Elhim Iskra [BUL:52E], socks manufacturer Fazan [BUL:4F5], vinegar maker Vinprom, and two companies which have halted operations indefinitely - Slavyana and Dionisiy.
As at 10:45 CET on Thursday, Stara Planina Hold shares traded 0.82% higher at 6.15 levs on the Bulgarian Stock Exchange.
(1 euro = 1.95583 levs)