Bulgaria's Stara Planina Hold sees Feb cons sales rise 12% Bulgaria’s Stara Planina Hold said it expects its consolidated sales to increase 11.83% on the year to BGN 15 million in February, reaching bGN 30.4 million for the first two months of the year. Consolidated sales rose 12.6% on the year to BGN 15.4 million in January, Stara Planina Hold said in a notice filed with the Sofia stock exchange. Subsidiaries M+S Hydraulic and Hydraulic Elements&Systems posted an increase of 17.2% to BGN 8.0 million and 12.7% to BGN 4.0 million in sales last month, respectively. Meanwhile, car battery manufacturer Elhim-Iskra’s sales dropped 4.8% to BGN 2.5 million in January, the notice indicated. M+S Hydraulic’s pre-tax profit amounted BGN 1.6 million in January. Hydraulic Elements&Systems and Elhim-Iskra reported profits of BGN 550,000 and BGN 95,000, respectively.
Source: profit.bg (25.02.2014)

Bulgaria’s Asset Insurance gets insurance licence Bulgaria’s financial regulator said it granted local company Asset Insurance a licence to operate as a general insurer. Asset Insurance has been licensed to provide casualty, accident and illness, fire and natural disaster, vehicle, cargo, financial and third party liability insurance services, a notice published on the website of the Financial Supervision Commission last week indicated. Asset Insurance is in the process of being established. Asset Insurance will have a capital of BGN 10.5 million. Stara Planina Hold and its subsidiary Hydraulic Elements & Systems own 20% each in the insurance company, the daily added. Oil trader Bent Oil holds 28% in the new company, while holding company TK Hold has a 15% stake.
Source: Capital (23.04.2014)