October 23 (SeeNews) - Bulgarian diversified group Stara Planina Hold [BUL:SPH] said on Monday that it expects its consolidated revenue to rise by 3% on the year to 321.7 million levs ($174.2 million/164.5 million euro) in the ten months through October.
The company's revenue grew by 5.3% year-on-year in January-September, reaching 293.4 million levs, Stara Planina Hold said in a bourse filing. Last month, the group projected an annual increase of 5.4% in its sales in the first nine months of 2023.
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The total preliminary gross profit of the company's four main subsidiaries, including hydraulic equipment manufacturer M+S Hydraulic [BUL:MSH], machine engineering company Hydraulic Elements and Systems [BUL:HES] and cosmetics manufacturer Bulgarian Rose [BUL:ROZA], totalled some 37.6 million levs in the review period. Battery maker Elhim Iskra [BUL:ELHM] was the only one to post a preliminary loss, of 203,000 levs.
Only M+S Hydraulic is projected to grow its sales revenue in the first ten months of this year, by an annual 11.1% to 200.5 million levs. In contrast, Bulgarian Rose's sales are seen to drop by 15.1%, while Elhim Iskra and HES' sales are expected to fall by 9.3% and 8.6%, respectively.
Shares in Stara Planina Hold last traded on October 18 when they closed at 10.30 levs on the Bulgarian Stock Exchange, bourse data show.
(1 euro = 1.95583 levs)