Consolidated sales of Stara Planina Hold for the first quarter of 2017 show an increase of 8.24% compared to sales from the beginning of 2016. The holding accumulated BGN 17,8 million in March 2017 only, which round up in Q1 result of BGN 51,9 million.
Forecast for Stara Planina Hold revenues in the first four months of 2017 is 5.70% higher than the same period in 2016. The company predicts April revenues will be BGN 16,7 million and the 4-months result will reach BGN 68,5 million.
Main Stara Planina Hold subsidiaries contribution
М+S Hydraulic reported sales of over BGN 9 million in March 2017 and accumulated Q1 revenues of BGN 25,3 million, which is 5,7% increase compared to the same period last year.
Hydraulic Elements and Systems registered BGN 5 million revenue in March, which was part of BGN 14,3 million in the end of Q1 2017. This is approx. 12% increase compared to last year.
Elhim-Iskra came up with a revenue of BGN 2,9 million in March and BGN 9,5 million for Q1 2017, which registered 12% growth on annual basis.
Bulgarian Rose increased sales in Q1 2017 by 10,4% reaching the amount of BGN 1 million. The forecast is revenues will reach BGN 1,4 million by the end of April 2017 – up with 9,2% compared to last year period.
New acquisitions will increase annual revenue to BGN 194 million
On 12 April 2017 Stara Planina Hold acquired shares in several businesses.
The holding bought 33492 shares, each with nominal value of BGN 2.00, representing 95.69% of the capital of Vinprom JSC, Veliko Tarnovo at a price BGN 1,953,595.
Bought 19827 shares, each with nominal value of BGN 3.00, representing 68.99% of the capital of Dionisiy JSC, Nikopol at a price BGN 99,135. And another 10882 shares, representing 80% of the capital of Ustrem LTD, Svishtov at a price BGN 587,628.
Stara Planina Hold reported intention to invest in the modernization and development of new enterprises. With the acquisition of new subsidiaries management expects consolidated annual sales revenue to reach BGN 194 million.
Dividend from 2016 profit is to be decided in May
Dividend from 2016 profits is expected as of July. General meeting of shareholders is planned for 23 May. Payment of dividends, if it will be decided that way at the meeting, is to begin two months earlier than usual – from 10 July.