M+S Hydraulic’s March’17 sales up 4.8% YoY, EBT down 16% YoY; April’17 revenue foreseen down 0.1% YoY (NEUTRAL)

March’17 sales of M+S Hydraulics came to BGN 9m, up by 4.8% YoY (+11.8% MoM) and 3.2% higher than the management’s forecast. The preliminary EBT for the month was down 16% YoY to BGN 1.4m. April’17 sales are expected to step back by 0.1% YoY to BGN 8.3m, which would bring the 4-mo’17 revenue to BGN 33.6m, up by 4.2% YoY.