Stara Planina Hold and its subsidiaries post 6.2% y/y top line expansion for the 10M16, the Company announced in a statement to the Bulgarian Stock Exchange.
Overall, consolidated revenues of the group reached BGN 158m at the end of October 2016 and are expected to add up to BGN 174.1m by the end of Novermber, 2016. Growth slight to decelerate in all subsidiaries.
Stara Planina Hold subsidiaries are also performing well
Flagman industrial subsidiaries M+S Hydraulic and Hydraulic Elements and Systems booked 7% y/y rise in the top line to BGN 80.3m and 9.9% y/y rise to BGN 39m for the 10M16, respectively.
Stara Planina Hold announcement of current financial results (on consolidated basis) and the financial results of the most significant enterprises in Holding’s portfolio on October 2016 and projected sales for November 2016 (in thousand BGN).
About Stara Planina Hold – a SOFIX component
Stara Planina Hold was found in 1996 and participated in the mass privatization in Bulgaria. It restructured its portfolio of assets in the next years to focus on machine building, electrical equipment, pharmaceutical and cosmetics and textile sectors. The Holding is active in the management of its subsidiaries and provides financial support for the investment project of the different companies. The policy to redistribute funds for the subsidiaries proved to be the key factor for the development of the Group as it managed to increase several times the revenues without acquisitions of new assets.