August 23 (SeeNews) - Bulgarian diversified group Stara Planina Hold [BUL:SPH] said on Tuesday that it expects its consolidated revenue to go up by 39.83% year-on-year in the first eight months of 2022, to 248.7 million levs ($126.3 million/127.2 million euro).
At 217.4 million levs, Stara Planina Hold's revenue for the first seven months rose by an annual 39.17%, the group said in a trading update filed with the Bulgarian Stock Exchange.
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Last month, Stara Planina Hold projected an annual rise of 38.13% in revenue for the January-July period.
The strong performance was due to double-digit yearly increases in the seven-month sales of the group's four main subsidiaries - M+S Hydraulic [BUL:MSH], Hydraulic Elements and Systems [BUL:HES], car battery manufacturer Elhim Iskra [BUL:ELHM] and cosmetics producer Bulgarian Rose [BUL:ROZA], the filing showed.
Stara Planina Hold forecast the largest annual revenue increase in the eight months through August for M+S Hydraulic, of 48.32% to 142.7 million levs.
Shares in Stara Planina Hold traded 2.22% higher at 9.20 levs as at 1016 CEST on Tuesday.
(1 euro = 1.95583 levs)