FreeSoft losses narrow as margin widens

Music

Hungarian software maker FreeSoft\'s first-half losses narrowed to HUF 112 million from HUF 139 million in the same period a year earlier as its margin widened, FreeSoft\'s recently published report for 2011H1 shows.

Net sales revenue climbed 34% to HUF 351 million during the period. At the same time, material costs rose just 17% to HUF 292 million and payroll costs fell 26% to HUF 119 million, causing losses at operating level to narrow to 71 million from HUF 128 million.

FreeSoft\'s bottom line was hit by a HUF 41 million net financial loss, compared to a HUF 11 million loss in the base period 2010.

FreeSoft had total assets of HUF 3.85 billion on June 30, down 5% from the end of 2010. Net assets fell 3% to HUF 3.13 billion.

ADVERTISEMENT

Almost half of Hungarians get fringe benefits, survey shows Analysis

Almost half of Hungarians get fringe benefits, survey shows

19,000 young jobseekers hired in expanded subsidy program Government

19,000 young jobseekers hired in expanded subsidy program

Manager screenings - not just for managers Interview

Manager screenings - not just for managers

Zsa Zsa Gabor's ashes buried in Budapest City

Zsa Zsa Gabor's ashes buried in Budapest

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.