Bulgaria's HES meets Oct sales fcast, eyes 2.8 mln euro in Nov

Bulgaria's HES meets Oct sales fcast, eyes 2.8 mln euro in Nov

Bulgarian machine engineering company Hydraulic Elements and Systems (HES) said on Wednesday that it generated sales revenue of 5.4 million levs ($3.1 million/2.8 million euro) in October, in line with its forecast made last month.HES reported accumulated sales of 53.1 million levs in January-October, up by an annual 1.65%, and expects to generate a further 5.4 million levs in November, the company said in a bourse filing.If the company meets its November sales expectations, its annual sales growth will slow down to 0.38% in January-November.The company's gross profit amounted to some 4.5 million levs in January-October.As at 11:05 CET on Wednesday, HES shares traded at 4.40 levs, unchanged from their previous closing price on the Bulgarian Stock Exchange.HES is part of blue-chip industrial group Stara Planina Hold.
 

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