December 16 (SeeNews) - Bulgarian diversified group Stara Planina Hold [BUL:SPH] plans to increase its annual investments by 2% next year to 23.8 million levs ($12.9 million/12.17 million euro), it said on Friday.
The investments will be focused on modernisation and sustainable technology renewal, green and digital transition, increasing labour productivity and employees’ remuneration, the group said in a bourse filing.
In 2023, Stara Planina expects a minimum rise of 0.5% in the number of employees.
The company forecast sales of over 373 million levs for 2022, which represents growth of over 34% compared to 2021 and over 86% on 2020. Net profit will exceed 8 million levs and part of it will be distributed as dividend, the company said.
Stara Planina forecast that its sales are expected to top 385 million levs in 2023, rising by about 4% in annual terms. Its performance will be affected by prices of raw materials, transportation and energy resources. The war in Ukraine and related sanctions at EU and national level will continue to impact the activities of Stara Planina's subsidiaries, it said.
(1 euro = 1.95583 levs)