Stara Planina Hold Plc announced a Financial Report for the first half of 2023.
The net profit of Stara Planina Hold Plc for the first half of 2023 reached BGN 8 520 thousand, which is an increase by 12.55 % compared to the reported net profit in the amount of BGN 7 570 thousand for the same period of the previous year and an increase by 20.59 % compared to the profit for the first half of 2021.
The preliminary summary data show that the consolidated sales for the first half of 2023 will be approximately 14 % higher than the sales for the same period of 2022 and nearly 59 % higher than the reported sales for the first half of 2021. Our corrected expectations are that net sales revenue for the first half of the year will exceed BGN 209 million.
Against the backdrop of the intensifying decline in global economy, the reduction of orders from our customers and partners for the second half of the year and the ongoing geopolitical uncertainty, we are adjusting our forecasts expecting the consolidated revenues for the third quarter of 2023 to reach BGN 90.8 million thus reporting a decrease by more than 7 % compared to the same period of the previous year and an increase by more than 25% compared to the same period of 2021. With the estimated revenues for the second half of 2023, we will report a decrease by about 12% compared to the same period of the previous year and an increase by approximately 15% compared to the second half of 2021. We expect that sales in 2023 will exceed BGN 377 million.
CONSOLIDATED HALF-YEAR SALES incl. updated forecast for 2022 ( BGN million)