Hydraulic Elements and Systems Posts 0.67 Leva Profit Per Share73.13

Net January – September profit of Hydraulic Elements and Systems () grew nearly 21% to 2.035 mln leva (1.040 mln euros), or 0.67 leva per share, versus 1.685 mln leva ( 861 thousand euros) a year ago, shows the latest report.

Net sales revenues rose 16% to 36.972 mln leva (18.903 mln euros), against 31.93 mln leva (16.325 mln euros) a year ago. Costs on economic elements rose to 35.044 mln leva (17.917 mln euros).

The company has a core capital in the amount of 3.032 mln leva (1.550 mln euros), own capital stands at 20.49 mln leva (10.476 mln euros).

In 2007 Q3 the company fulfilled the penultimate stage of the program for enhancing production capacity with its second largest client HS PENTA. Between April 2007 and September 2007 the company boosted production capacity with between 30% and 80% for different products.

HES expects profit from core activity in 2007 to amount to 2.281 mln leva (1.166 mln euros), and after tax profit to come to stand at 2.053 mln leva (1.050 mln euros). The Board of Directors recently confirmed that the projected results are attainable.

Main shareholders are Stara Planina Holding AD with 63.72% and Slavyana with 8.28%.

5,671 shares changed hands today at an average of 31.15 leva.

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