December 16 (SeeNews) - Bulgarian diversified group Stara Planina Hold [BUL:SPH] expects a rise in sales revenue to 307 million levs ($178 million/157 million euro) next year, it said.
The company hopes for annual growth of over 17% of its consolidated sales revenue in the first six months of next year, to be followed by rise of 4% in the second half, it said in a statement.
The group plans to increase investment by over 48% and grow its headcount by about 2% next year.
An expected annual increase in sales in the second half of 2021 is 49.6% which would bring the sales of Stara Planina Hold in 2021 to 277.7 million levs, or about 39% higher compared to last year and 24% higher compared to 2019.
Last month, Stara Planina Hold said that its consolidated net profit excluding minority interest soared to 11.2 million levs in the first nine months of 2021 from 4.9 million levs in the comparable period of 2020. The group’s profit after taxes, including interest attributable to other shareholders in Stara Planina Hold’s subsidiaries and affiliates, rose to 24.6 million levs in January-September from 12.5 million levs in the same period of 2020.
The difference between Stara Planina Hold’s after-tax and net profit is mostly due to the minority interest it owns in the largest company which it consolidates - hydraulic equipment manufacturer M+S Hydraulic [BUL:MSH].
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)