Hydraulic Elements and Systems Sales Reach 17.196 Million Leva in January-April

Hydraulic Elements and Systems AD-Yambol said today its net sales revenues increased 13.18% to 17.196 mln leva in the four months ended 30 April 2007 from 15.193 mln leva in the same period last year, the company told BSE-Sofia. Sales in the same period a year ago

Net profit in the period amounted to 1.257 mln leva versus 936,000 leva a year ago.

The rights from the capital increase of Hydraulic Elements and System will be floated on BSE on 23 May.

The company intends to increase its capital from 2.62 mln leva to 3.039 mln leva via the issuance of 419,000 new shares with a face value of 1 leva and issue value of 19.75 leva each.

The company expects to raise 8.148 mln leva net (after cost deduction) from the public offering.

The issued rights will be traded under BSE code R1HES, and the ratio between the issued rights and the new shares is 1/0.16.

Hydraulic Elements and Systems AD-Yambol expects to increase its sales of hydraulic elements 2.5 times in terms of value and 2.1 times in terms of volume by 2011 from their levels in 2006 and to achieve sales revenues of 104 mln leva.

Its net profit in the same period is expected to grow 6.2 times to 11.118 mln leva.
In 2007 the company expects operating revenues of 42.81 mln leva and net profit of 2.053 mln leva compared to 1.761 mln leva in 2006.

A total of304 shares on this position changed hands today between 24.56 and 26 leva/share.

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