Stara Planina Hold Plc announced a Consolidated Financial Report for the first half of 2023.
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The Group's total consolidated profit after tax for the first half of 2023 reached BGN 26 658 thousand which is an increase by 17.02 % compared to the reported net profit in the amount of BGN 22 780 thousand for the same period of the previous year and an increase by 60.99 % compared to the profit for the first half of 2021.
The consolidated net sales revenues for the first half of 2023 report a growth by 15.4 % compared to the sales for the same period of 2022 and over nearly 61 % increase compared to the reported sales for the first half of 2021. The net sales revenues for the first half of the year reached BGN 211.61 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 confirm 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 380 million.
CONSOLIDATED HALF-YEAR SALES incl. updated forecast for 2022 ( BGN million)