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Masterplast Q4 loss narrows

Hungarian building materials maker Masterplast booked a net loss of €476,000 in the fourth quarter, improving over a loss of €1,106,000 in the base period, an earnings report published late yesterday shows, according to Hungarian news agency MTI.

Revenue edged down 2% to €19,242,000, although the company noted that excluding “non-strategic manufacturing base materials”, turnover rose 10%. Direct cost of sales fell even more than revenue, by 3% to €16,775,000, giving Masterplast a bigger margin.

Depreciation and amortization was down by 71% at just €353,000, supporting an improvement in operating profit to €395,000 from a €507,000 loss in the base period. Masterplast had an €826,000 financial loss, hit by “hectic exchange rates”, which weighed on the bottom line.

In a breakdown of sales by market, Masterplast said revenue in Hungary rose 10% to €5,750,000 and turnover in Romania was up 10% at €2,789,000. Serbian sales climbed 6% to €2,216,000 and sales in Ukraine were up 6% at €2,224,000 but sales in Slovakia plunged 71% to €717,000.