Elhim Iskra June’18 sales down 6.5% YoY, the EBT up 2.2x YoY; the July revenue expected to grow 25.5% YoY (NEUTRAL)

The June’18 sales of Elhim Iskra came to BGN 2.9m, down by 6.5% YoY (-11.6% MoM) and 2.0% below the management’s guidance for the month. The preliminary EBT for the month grew 2.2x YoY to BGN 108k. The July’18 sales are expected to grow by 25.5% YoY to BGN 3.15m, which would bring the 7-mo revenue to BGN 23.2m, up by 13.7% YoY.