Business Telecom profit pressured by costs
Business Telecom on Thursday reported its profit rose 43% last year, although revenue jumped, but increasing costs and taxes took their toll. Net income rose to HUF 59.6 million from HUF 41.8 million, while total net revenue increased more than fourfold to HUF 3.5 billion from HUF 842 million. Material costs were up to HUF 2.4 billion from HUF 642 million, and labor costs went up to HUF 304 million from HUF 54 million as a result of fast expansion. Tax paid increased almost threefold, to HUF 7.2 million from HUF 2.5 million.
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