ADVERTISEMENT

Phylaxia slips into red in Q1 on financial losses, base effect

Music

Asset-management company Phylaxia 1912 Holding had after-tax losses of HUF 6.1 million in the first quarter of 2013, compared to after-tax profit of HUF 68.4 million in Q1 of 2012 on financial losses and patent usage-fees received under a court ruling and boosting income in the base period, the company announced in its consolidated IFRS report for the period on Tuesday. Phylaxia had financial losses of 67.8 million in the first quarter of 2013, compared to financial gains of HUF 25.6 million in Q1 of 2012, mostly reflecting interest-payment obligations. Phylaxia had net revenue from sales of HUF 150.4 million in the first quarter, up 25% yr/yr, and operating costs of HUF 111.3 million during the period, down 30% yr/yr. Phylaxia 1912 Holding is a B-category issuer at the Budapest Stock Exchange.

ADVERTISEMENT

IMF raises Hungary 2021 GDP growth forecast to 7.6% Analysis

IMF raises Hungary 2021 GDP growth forecast to 7.6%

Parliament approves amendment to Competition Act Parliament

Parliament approves amendment to Competition Act

New CEO announced at Codic Hungary Appointments

New CEO announced at Codic Hungary

Budapest bike-sharing scheme boasts record ridership City

Budapest bike-sharing scheme boasts record ridership

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.