Bulgaria's Stara Planina Hold grows profit in 2021, eyes rise in H1'22 sales

Consequently, the group expects sales to reach 160.6 million levs in the first half of 2022, some 22% higher compared to the same period of last year, it said in its 2021 annual financial report on Friday.

Stara Planina Hold also said that its consolidated net profit excluding minority interest rose to 13.1 million levs last year from 8.1 million levs in 2020, backed by higher revenue.

The group’s consolidated revenue increased to 284.1 million levs from 212.2 million levs in 2021, while expenses grew to 251 million levs from 188.9 million levs.

As at 12:55 CET on Monday, shares in Stara Planina Hold traded 5.82% higher at 10 levs on the Bulgarian Stock Exchange.

Stara Planina Hold's investment portfolio includes companies from the sectors of machine engineering, electrical engineering, and perfumery and cosmetics.

(1 euro = 1.95583 levs)