February 22 (SeeNews) - Bulgarian diversified group Stara Planina Hold [BUL:SPH] said on Wednesday that it expects its consolidated revenue to increase by 23% year-on-year to 67.9 million levs ($37.02 million/34.72 million euro) in the first two months of 2023.
The company's revenue in January went up by an annual 31% to 34.7 million levs, Stara Planina Hold said in a bourse filing. Last month, the group projected an annual rise of 25.8% in its January sales.
The total preliminary gross profit of the company's four main subsidiaries, including hydraulic equipment manufacturer M+S Hydraulic [BUL:MSH] and machine engineering company Hydraulic Elements and Systems [BUL:HES], amounted to some 5.2 million levs in January. The amount reflects the pre-tax losses incurred by battery maker Elhim Iskra [BUL:ELHM] and cosmetics manufacturer Bulgarian Rose [BUL:ROZA].
Three of the four main subsidiaries are projected to grow their sales revenues in the double digits in February, while Bulgarian Rose's revenue is expected to drop by nearly 36% on the year, the filing added.
Shares in Stara Planina Hold last traded at 10.00 levs on the Bulgarian Stock Exchange, bourse data show.
(1 euro = 1.95583 levs)