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Démász raises capital at sales unit

Electricity distributor for southern Hungary Démász Rt announced yesterday it will increase the registered capital of D-Energia Kft, its wholly-owned unit for sales on the deregulated market, from Ft 250 million to Ft 450 million by February 15.

 The increase will become effective after registration by the court of registration. According to nine-month figures, Démász' electricity sales on the deregulated market more than tripled to 673 GWh in January-September 2005, accounting for 23% of its total electricity sales during the period. Démász had net profit of Ft 5.01 billion in the first nine months of 2005, up 23.5% from the same period a year earlier.