May 23 (SeeNews) - Bulgarian hydraulic equipment manufacturer M+S Hydraulic [BUL:5MH] said on Thursday that its consolidated net profit fell to 4.5 million levs ($2.6 million/2.3 million euro) in the first quarter of 2019 from 5.0 million levs in the same period of last year.
M+S Hydraulic's total revenue decreased to 30.3 million levs in the first three months of the year from 32.6 million levs in the same period of 2018, the company said in an interim financial statement.
Total expenses declined to 25.2 million levs in the review period from 27.0 million levs a year earlier, as expenses for materials fell to 13.5 million levs from 14.7 million levs.
M+S Hydraulic is an affiliate of blue-chip diversified group Stara Planina Hold [BUL:5SR].
As at 9:45 CET on Thursday, M+S Hydraulic shares traded unchanged at 7.8 levs on the Bulgarian Stock Exchange.
(1 euro = 1.95583 levs)