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Bulgaria's Stara Planina Hold expects 33% rise in cons sales in 2021

Bulgaria's Stara Planina Hold expects 33% rise in cons sales in 2021 Author: Ken Teegardin. Licence: Creative Commons, Attribution-ShareAlike 2.0 Generic.

SOFIA (Bulgaria), September 27 (SeeNews) - Bulgarian diversified group Stara Planina Hold [BUL:SPH] said on Monday that it expects to increase consolidated sales to 266.3 million levs ($159.2 million/136.2 million euro) in 2021, up 33% on an annual comparison basis.

Stara Planina Hold also forecasts a nominal growth in productivity of over 30% this year, it said in a bourse filing.

The group, which has been active on the Bulgarian market for 25 years, currently employs some 250,000 people and exports its products to over 100 countries worldwide, according to the filing. Its assets amount to over 250 million levs.

The most recent financial report of the company shows that Stara Planina Hold's consolidated net profit excluding minority interest rose to some 7.7 million levs in the first half of 2021 from 2.7 million levs a year earlier. The group’s profit after taxes, including interest attributable to other shareholders in Stara Planina Hold’s subsidiaries and affiliates, increased to 16.6 million levs in the January-June period from 7.3 million levs in the comparable period of last year.

Stara Planina Hold's investment portfolio includes companies active in machine building, electrical engineering and perfumery and cosmetics. The largest company which Stara Planina Hold consolidates is hydraulic equipment manufacturer M+S Hydraulic [BUL:MSH].

As at 11:15 CET on Monday, shares in Stara Planina Hold traded 4.35% higher at 12 levs on the Bulgarian Stock Exchange.

(1 euro = 1.95583 levs)