Bulgarian machine engineering company Hydraulic Elements and Systems [BUL:HES] said on Friday that it projects its sales revenue to fall by 8.6% year-on-year in the first ten months of 2023.
Sales in October alone are forecast at 6.2 million levs ($3.3 million/3.2 million euro), HES said in a bourse filing.
In the first nine months of 2023, the company’s revenue declined by 6% on the year to 68.6 million levs, while its preliminary gross profit amounted to some 3.98 million levs. Sales in September alone came in at 6.93 million levs, with preliminary profit at 531,000 levs.
Yambol-based HES is part of local industrial group Stara Planina Hold [BUL:SPH].
As of 1145 CEST on Friday, shares in HES traded flat at 6.35 levs on the Bulgarian Stock Exchange.
(1 euro = 1.95583 levs)
Source : Seenews
