Hydraulic Elements & Systems July’15 sales fall 1.4% on a monthly basis; August revenue forecasted at BGN 2.2m (NEGATIVE)

Hydraulic Elements & Systems sales for July’15 decreased to BGN 2.8m, down by 1.4% on a monthly basis and 6.7% lower than the management’s forecast. The company’s cumulative revenue since the beginning of the year amounts to BGN 25.67m, registering a decrease of 7.35% on an annual basis. The August sales are expected to contract to BGN 2.2m (-23.6% MoM), which would bring 8-mo 2015 core revenues to BGN 27.87m (YoY comparison n.a.).