M+S Hydraulic's Q1 Profit Up 17% Y/Y

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M+S Hydraulic's Q1 Profit Up 17% Y/Y

M+S Hydraulic booked 2.13 mln leva (1.08 mln euros) profit in the first quarter of 2008, up 17% year on year, the financial report of the company shows.

The operating revenue of the company totaled 20.57 mln leva (10.51 mln euros) in the first three months of the year, compared to 18.83 mln leva (9.62 mln euros) revenue generated for the year-ago period. The revenue from product sales accounted for 19.48 mln leva (9.95 mln euros) of the figure, compared to nearly 18 mln leva (9.2 mln euros) booked a year earlier.

The sales revenue from hydraulic motors and steering units stood at 14.53 mln leva (7.42 mln euros) and 2.34 mln leva (1.19 mln euros), respectively.
Exports made for 15.71 mln leva (8.03 mln euros) of the total revenue of the company in the first quarter of 2008. The domestic sales revenue of the company went up from 2.7 mln leva (1.38 mln euros) as at March 31, 2006 to 3.81 mln leva (1.94 mln euros) a year later.

The balance sheet value of the company's assets rose from 52.87 mln leva (27.03 mln euros) to 56.36 mln leva (28.81 mln euros).

M+S Hydraulic's non-current liabilities remained almost unchanged at 5.7 mln leva (2.91 mln euros). The current liabilities of the company rose by nearly 1.3 mln leva (664,680 mln euros) to 15.52 mln leva (7.93 mln euros) as at the end of March 2008.

The issued capital of the company stood at 13.02 mln leva (6.65 mln euros) as at March 31, 2008, while the subscribed capital amounted to 35.13 mln leva (17.96 mln euros), compared to nearly 33 mln leva (16.87 mln euros) as at the end of March 2006.

A total of 539 shares in M+S Hydraulic changed hands on the Bulgarian Stock Exchange (BSE) today. The stock of the company appreciated by 4.49% to an average of 9.31 (4.76 euros) leva per share.

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