August 22 (SeeNews) - Bulgarian diversified group Stara Planina Hold [BUL:SPH] said on Tuesday that it expects its consolidated revenue to rise by 6.9% on the year to 265.4 million levs ($148 million/135.7 million euro) in the first eight months of 2023.
The company's revenue grew by 11% year-on-year in January-July, reaching 240.9 million levs, Stara Planina Hold said in a bourse filing. Last month, the group projected an annual increase of 10.9% in its sales in the first seven months of 2023.
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The total preliminary gross profit of three of the company's four main subsidiaries, including hydraulic equipment manufacturer M+S Hydraulic [BUL:MSH], battery maker Elhim Iskra [BUL:ELHM] and cosmetics manufacturer Bulgarian Rose [BUL:ROZA], totalled some 28.8 million levs in the review period. Machine engineering company Hydraulic Elements and Systems [BUL:HES] did not disclose its financial results.
Only M+S Hydraulic is projected to grow its sales revenue in the first eight months of this year, by an annual 15.9% to 165.9 million levs. In contrast, Bulgarian Rose's sales are seen to drop by 21.8%, while Elhim Iskra and HES' sales are expected to fall by 7.2% and 5.3%, respectively.
Shares in Stara Planina Hold last traded on Monday when they closed at 9.80 levs on the Bulgarian Stock Exchange, bourse data show.
(1 euro = 1.95583 levs)