Bulgaria's Stara Planina Hold projects fall in 11-mo cons sales

The company's revenue rose by 2.9% on the year to 321.3 million levs in January-October, Stara Planina Hold said in a bourse filing. Last month, the group forecast an annual growth of 3% in its sales in the first ten months of 2023.

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 cosmetics manufacturer Bulgarian Rose [BUL:ROZA], amounted to some 40.5 million levs in the review period. Battery maker Elhim Iskra [BUL:ELHM] was the only one to post a preliminary loss, of 329,000 levs.

M+S Hydraulic is the only subsidiary expected to increase its sales revenue in January-November, by an annual 5.7%. In comparison, Bulgarian Rose's sales are projected to drop by 13.3%, while HES' and Elhim Iskra's sales are forecast to decline by 9.9% and 9.3% year-on-year, respectively.

Shares in Stara Planina Hold last traded on Tuesday when they closed at 10.20 levs on the Bulgarian Stock Exchange, bourse data show.

(1 euro = 1.95583 levs)