FreeSoft profit edges down in 2011
Hungary's FreeSoft had net income of HUF 61 million in 2011, down from 30% from 2010, the software company said in its consolidated IFRS report late Thursday.
Revenue rose by 4% to HUF 8.62 billion
Gross margin climbed 11% to HUF 3.34 billion.
Operating profit was up 166% at HUF 225 million.
FreeSoft had net assets of HUF 2.83 billion on December 31, 2011, up 2% from twelve months earlier.
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.