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Sep 25, 2023 10:46 EEST
September 25 (SeeNews) - Bulgarian diversified group Stara Planina Hold [BUL:SPH] said on Monday that it forecasts its consolidated revenue to grow by an annual 5.4% to 293.7 million levs ($159.7 million/150.2 million euro) in the first nine months of 2023.
The company's revenue went up 6.8% on the year in the January-August period, reaching 265.3 million levs, Stara Planina Hold said in a bourse filing. Last month, the group projected an annual rise of 6.9% in its sales in the first eight months of 2023.
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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 cosmetics manufacturer Bulgarian Rose [BUL:ROZA], amounted to some 34.2 million levs in the review period. Battery maker Elhim Iskra was the only one to post a preliminary loss in the eight months through August.
Only M+S Hydraulic is projected to increase its sales revenue in January-September, by 14%. In contrast, Bulgarian Rose's sales are expected to drop by 19.8%, while Elhim Iskra's and HES' sales are seen to decline by 9.2% and 6% year-on-year, respectively.
Shares in Stara Planina Hold last traded on September 18 when they closed at 10.00 levs on the Bulgarian Stock Exchange, bourse data show.
(1 euro = 1.95583 levs)
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