December 14 (SeeNews) - Bulgarian industrial group Stara Planina Hold [BUL:5SR] said on Friday that it expects its consolidated revenue to rise by an annual 11% to 241 million levs ($139.1 million/123.2 million euro), and then remain unchanged year-on-year in 2019.
Stara Planina Hold forecasts that its net profit will amount to 5.8 million levs in 2018, the company said in a bourse filing.
Last year, Stara Planina Hold posted a consolidated net profit, excluding minority interest, of 7.8 million levs.
Stara Planina Hold's priority next year will be to retain major markets and widen its presence on new ones, the company said.
The group increased its investment by 4.9% to 20.3 million levs this year and is projecting a 33% growth to 27 million levs in 2019.
The number of employees rose 2.6%, while labour costs added 15.8% in 2018. Labour productivity improved by 9.3% this year.
In 2019, the group plans to increase its employees by 0.6%, while labour costs are projected 5.2% higher.
Stara Planina Hold's investment portfolio includes companies from the sectors of machine building, electrical engineering and perfumery and cosmetics.
(1 euro = 1.95583 levs)