May 22 (SeeNews) - Bulgarian diversified group Stara Planina Hold [BUL:SPH] said on Monday that it forecasts its consolidated revenue from sales to increase by 17.4% year-on-year in the January-May period, reaching 172.5 million levs ($95.3 million/88.2 million euro).
Stara Planina Hold grew its consolidated revenue by an annual 18.2% to 138.2 million levs in the first four months of 2023, it said in a stock exchange filing. This was in line with projections published last month.
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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 battery maker Elhim Iskra [BUL:ELHM], amounted to close to 20 million levs in the four months through April, the financial data showed. Cosmetics manufacturer Bulgarian Rose [BUL:ROZA] was the only subsidiary to post a slump in sales and a pre-tax loss in the review period.
M+S Hydraulic is expected to grow its total sales revenue by over 26% year-on-year in the five months through May, with single-digit sales increases forecast also for Hydraulic Elements and Systems and Elhim Iskra. At the same time, sales of Bulgarian Rose are expected to drop by 41.77% year-on-year, the holding also said.
Shares in Stara Planina Hold last traded at 9.60 levs on the Bulgarian Stock Exchange, bourse data showed on Monday morning.
(1 euro = 1.95583 levs)