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Tag Archives: Hungary’s

Hungary’s retail food sales grow 5% to HUF 490b

BUDAPEST: Retail food sales rose 5% reaching HUF 490 bln during the period from last December to March of this year, market research company Nielsen told MTI last Friday. In volume terms, retail sales increased 4%, while in value terms, sales of beer, carbonated soft drinks and fruit juices rose more than the average. In volume terms, sales of meat ... Read More »

Hungary’s Danubius Hotels Q1 loss narrows HUF 980M

BUDAPEST: An earnings report published late Friday shows that the Hungaryʼs Danubius Hotelsʼ first-quarter loss narrowed to HUF 980 million from the HUF 2.6 billion loss recorded in the same period a year earlier, on the back of  mostly unrealized foreign currency gains,. Revenue rose 2% to HUF 9.3 bln, but cost of materials and services outpaced the increase, climbing ... Read More »

Hungary’s Sinia inaugurates HUF 1.9b furniture plant

BUDAPEST: Belgian-owned furniture manufacturer Sinia Bútorgyártó yesterday inaugurated a HUF 1.9 billion plant in Bátonyterenye, northern Hungary, news agency MTI said yesterday. The investment was realized with a HUF 640 mln European Union grant and a HUF 113 mln state grant, and is expected to create 150 jobs. It enabled the the construction of three production halls with a combined ... Read More »

Hungary’s Sinia inaugurates HUF 1.9b furniture plant

BUDAPEST: Belgian-owned furniture manufacturer Sinia Bútorgyártó yesterday inaugurated a HUF 1.9 billion plant in Bátonyterenye, northern Hungary, news agency MTI said yesterday. The investment was realized with a HUF 640 mln European Union grant and a HUF 113 mln state grant, and is expected to create 150 jobs. It enabled the the construction of three production halls with a combined ... Read More »

Hungary’s OTP to pay HUF 170b on borrowers’ relief

BUDAPEST: Hungary’s OTP Bank expects rebates and refunds due under borrowers’ relief legislation as well as the effect of the conversion of FX mortgages into forints to add up to HUF 170 bln, deputy-CEO László Bencsik said at a press conference today, according to Hungarian news agency MTI. The deputy-CEO noted that OTP has already awarded clients HUF 111 bln ... Read More »

Hungary’s industrial output rises 11.6% YoY in March 2015

BUDAPEST: The Central Statistical Office (KSH) said that the Hungary’s industrial output grew by an annual 11.6% in March 2015. The working day adjusted index shows output growth of 9% from a year earlier. In a month-on-month comparison, industrial output rose by 2.6% in March. Analysts Vivien Barczel and Gergely Ürmössy of Erste Bank said that the March industrial output ... Read More »

Hungary’s industrial output rises 11.6% YoY in March 2015

BUDAPEST: The Central Statistical Office (KSH) said that the Hungary’s industrial output grew by an annual 11.6% in March 2015. The working day adjusted index shows output growth of 9% from a year earlier. In a month-on-month comparison, industrial output rose by 2.6% in March. Analysts Vivien Barczel and Gergely Ürmössy of Erste Bank said that the March industrial output ... Read More »

Hungary’s to reduce VAT rate from 27% to 18% on internet subscriptions

BUDAPEST: The Hungarian government is planning on reducing the VAT rate from 27% to 18% on internet subscriptions as of next January, Hungarian economic daily Napi Gazdaság reported today. The paper added that the tax could be reduced as of 2017, if a superfast broadband network is established. The government may even contribute HUF 150 billion to the project, the ... Read More »

Hungary’s Gallicoop revenue reaches HUF 33.6b in 2014

BUDAPEST: Hungarian poultry processing firm Gallicoopʼs saw a 4% rise in revenue last year, to HUF 33.6 bln, with output rising by 8% to 32,000 tons, the company said yesterday. Gallicoop bought 40,000 tons of live turkeys from suppliers, 9% more than a year earlier, and turned out 7,700 tons of processed products and 4,300 tons of breaded products. Sales ... Read More »

Hungary’s industrial output rose 11,6% YoY in march 2015

BUDAPEST: Hungary’s industrial output grew by an annual 11.6% in March, the Central Statistical Office (KSH) said. The working day adjusted index shows output growth of 9% from a year earlier. In a month-on-month comparison, industrial output rose by 2.6% in March. Output growth was driven by vehicle manufacturing, the electronics sector and food industry, KSH statistician Ildikó Mikó said. ... Read More »

Hungary’s CPI drops 0.3% in April 2015

BUDAPEST: The consumer prices index in Hungary saw a year-on-year decrease of 0.3% year-on-year in April, accelerating from the previous month’s 0.6% drop, despite analysts expecting a drop of 0.5%, the Central Statistics Office (KSH) reported today. In year-on-year terms, food prices rose by 0.4%. A price decrease was reported in the case of sugar (16%), cheese (6.3%), milk (4.1%) ... Read More »

Hungary’s Invitel launches €30m network development

BUDAPEST: Hungarian tele- and info-communications company, Invitel is launching a more than €30 million development program in the retail and corporate sectors, which will bring high-speed internet and interactive television to an additional 120,000 households this year, Invitel said at a press conference today co-hosted by CEO David Blunck (pictured) and deputy-CEO Marianne Langsteiner. “Invitel was able to double its ... Read More »

Hungary’s Gallicoop revenue reaches HUF 33.6b in 2014

BUDAPEST: Hungarian poultry processing firm Gallicoopʼs saw a 4% rise in revenue last year, to HUF 33.6 bln, with output rising by 8% to 32,000 tons, the company said yesterday. Gallicoop bought 40,000 tons of live turkeys from suppliers, 9% more than a year earlier, and turned out 7,700 tons of processed products and 4,300 tons of breaded products. Sales ... Read More »

Hungary’s industrial output rose 11,6% YoY in march 2015

BUDAPEST: Hungary’s industrial output grew by an annual 11.6% in March, the Central Statistical Office (KSH) said. The working day adjusted index shows output growth of 9% from a year earlier. In a month-on-month comparison, industrial output rose by 2.6% in March. Output growth was driven by vehicle manufacturing, the electronics sector and food industry, KSH statistician Ildikó Mikó said. ... Read More »

Hungary’s industrial output climbs 11.6% in March

BUDAPEST: Hungaryʼs industrial output grew by a year-on-year 11.6% in March and by a month-on-moth 2.6% – while the workday-adjusted index showed a y.o.y. output growth of 9%, the Central Statistics Office (KSH) reported yesterday. Analysts Vivien Barczel and Gergely Ürmössy of Erste Bank told Hungarian news agency MTI that the March industrial output increase was well above expectations, adding ... Read More »

Hungary’s Graphisoft Park profits up by 61% in Q1 of 2015

BUDAPEST: Graphisoft Park, the owner and operator of a business park in north Budapest, reported after-tax profit of €924,000 in the first quarter of this year, up 60.9% from the same period a year earlier, according to the company’s consolidated first-quarter IFRS report, Hungarian news agency MTI reported yesterday. Graphisoft Park generated revenue of €2.43 million in Q1, up 23.9%. ... Read More »

Hungary’s Graphisoft Park profits up by 61% in Q1 of 2015

BUDAPEST: Graphisoft Park, the owner and operator of a business park in north Budapest, reported after-tax profit of €924,000 in the first quarter of this year, up 60.9% from the same period a year earlier, according to the company’s consolidated first-quarter IFRS report, Hungarian news agency MTI reported yesterday. Graphisoft Park generated revenue of €2.43 million in Q1, up 23.9%. ... Read More »

Hungary’s OTP bank to buy a small bank in another country

BUDAPEST: OTP Bank will acquire a small bank “within two months”, chairman-CEO Sándor Csányi said in an interview with VS.hu. “We will buy a small bank in a country where we are already present within two months,” Csányi told the news portal. “We can best realize synergies where we already have a unit.  In these countries, we are looking at ... Read More »

Hungary’s Richter shareholders approve HUF 33-per-share dividend

BUDAPEST: Shareholders of drugmaker Gedeon Richter approved payment of a HUF 33-per share dividend on last yearʼs earnings at an annual general meeting yesterday. The HUF 6.15 bln dividend will be paid from Richterʼs after-tax profit of HUF 19.11 bln, calculated according to Hungarian Accounting Standards. The remaining HUF 12.96 bln will be placed into profit reserves. The boardʼs dividend ... Read More »

Hungary’s Wabererʼs revenue increases 10% to €496.2m in 2014

BUDAPEST: Hungarian road haulage company Wabererʼs International’s revenue rose 9.7% to €496.2 million in 2014, the company told Hungarian news agency MTI yesterday. EBITDA rose 14.8% to €73.4 million. Last year, Wabererʼs purchased 1,300 new trailers and hired almost 500 lorry drivers. In addition to Hungary, the company’s key markets are Germany, Italy, France, the United Kingdom and Spain. Wabererʼs ... Read More »