The Board of Directors announces an address to the shareholders and investors of Stara Planina Hold Plc and its subsidiaries, informing about 2019 anticipations. The annual sales of the enterprises of the group will reach approximately BGN 241 m. This represents almost 11% growth compared to Y2017 sales.
We project Stara Planina Hold's net profit to reach BGN 5800 thousand which will give us assurance that for a 22nd consecutive year a part of it will be distributed as a dividend to the shareholders of the holding.
The Board of Directors expects the 2019 consolidated income from sales to peak Y2018 sales. In 2018, we also expect a decline in the financial result of about 1.5%, due to the forecasted growth in labor costs. In 2018 we will continue to have an active investment policy and we expect investment growth of 44% reaching BGN 28 million.
This year the number of employees increased by 2.6% and the increase in in the labor costs in the enterprises of the group is 15.8%, while labor productivity rose by 9.3%. In 2019 we plan to increase the number of our employees by 0.6% and the labor costs by 5.2%.
CONSOLIDATED SALES ( BGN million)