March 22 (SeeNews) - Bulgarian diversified group Stara Planina Hold [BUL:5SR] said that its consolidated sales revenue increased by an annual 2.25% to 41.2 million levs ($23.8 million/21.1 million euro) in the first two months of the year, failing to meet the company's forecast for a 2.64% rise.
Stara Planina Hold expects its January-March sales to be 1.66% lower year-on-year at 61.6 million levs, the group said in a bourse filing.
The expected decrease in the group's sales can mainly be attributed to a forecast 8.58% drop in the first-quarter sales of its affiliate M+S Hydraulic [BUL:5MH], which is expected to bring in 29.5 million levs.
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)