June 22 (SeeNews) - Bulgarian diversified group Stara Planina Hold [BUL:SPH] said on Thursday that it expects its consolidated revenue to go up by an annual 13.8% to 207.8 million levs ($116 million/106.2 million euro) in the first half of 2023.
The company's revenue increased by 17.2% on the year in the January-May period, reaching 172.2 million levs, Stara Planina Hold said in a bourse filing. Last month, the group projected an annual rise of 17.4% in its sales in the first five months of 2023.
You can download the 2024 Automotive industry in Southeast Europe report here
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 battery maker Elhim Iskra [BUL:ELHM], came in at some 22.4 million levs in the review period. Cosmetics manufacturer Bulgarian Rose [BUL:ROZA] was the only subsidiary to post a pre-tax loss over the period.
Three of the four subsidiaries are projected to grow their sales revenues in the first half of this year, with M+S Hydraulic marking the steepest rise, at 23%, whereas Bulgarian Rose's sales are seen to drop by 39.6% year-on-year, the filing added.
As of 1000 CET on Thursday, shares in Stara Planina Hold traded 8.34% higher at 9.95 levs on the Bulgarian Stock Exchange.
(1 euro = 1.95583 levs)