Synergon dives into red in Q1 on financial losses
Hungarian IT company Synergon had after-tax losses of HUF 125.4 million in the first quarter, compared to after-tax profit of HUF 67.05 million a year ago, stemming from financial losses of HUF 159.6 million, compared to financial gains of HUF 127.4 million one year earlier, Synergon announced in its first-quarter IFRS report on Friday. Synergon said the company sustained financial losses HUF 73 million from exchange-rate differences, HUF 65 million from interest payments, and HUF 22 million from futures deals on treasury shares. The company generated revenue of HUF 2.61 billion in the first quarter, up 48%. Synergon is a B-category issuer at the Budapest Stock Exchange.
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.