March 22 (SeeNews) - Bulgarian diversified group Stara Planina Hold [BUL:SPH] said on Wednesday that it expects its consolidated revenue to rise by an annual 20% to 105.6 million levs ($58.2 million/54 million euro) in the first quarter of 2023.
The company's revenue went up by 26% on the year in the January-February period, reaching 69.5 million levs, Stara Planina Hold said in a bourse filing. Last month, the group projected an annual increase of 23% in its sales in the first two months of 2023.
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], amounted to some 10.2 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 double digits in the first quarter, whereas Bulgarian Rose's sales are expected to plunge by 58% year-on-year, the filing added.
Shares in Stara Planina Hold last traded at 10.00 levs on the Bulgarian Stock Exchange, bourse data show.
(1 euro = 1.95583 levs)