Linamar Hungary Q2 profit rises 42%

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Automotive parts and farm machinery maker Linamar Hungary posted after-tax profit of HUF 436.9 million on revenue of HUF 9.4 billion in the second quarter, up 41.8% yr/yr and 26.4% yr/yr, respectively, from Q2 2010, the company announced in its unaudited first-half management report on Monday evening.

The company had operating profit of HUF 629.4 million in the second quarter, up from operating profit of HUF 206.3 million in Q2 2010.

Linamar Hungary had after-tax profit of HUF 504.1 million on revenue of HUF 17.8 billion in the first half of this year, up 27.2% yr/yr and 34.2% yr/yr, respectively. A total of 74.5% of the company's revenue stemmed from sales of automotive parts and 25.5% from sales of farm and general machinery during the period.

The company had operating profit of HUF 820.3 million in the first half, up from HUF 329.9 million in H1 2010.

Canada's Linamar holds a direct and indirect stake of 99.47% in Linamar Hungary, which is a B-category issuer at the Budapest Stock Exchange.

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