4iG reaches HUF 280 mln after-tax profit in Q1
4iG
Listed IT company 4iG had HUF 280.5 million after-tax profit in the first quarter of 2019 compared to a HUF 106.2 mln loss in the same period a year earlier, the company said in an earnings report posted on the Budapest Stock Exchange today, Hungarian news agency MTI reports.
Earnings per share was put at HUF 15, compared to a negative HUF 5.8 in Q1 2018. Net revenue was up by 65% at HUF 4.85 billion. EBITDA grew to HUF 483 mln from HUF 26.6 mln in the base period.
The number of employees at the end of Q1 was 400, up from 369 a year earlier. Market capitalization rose to HUF 76.3 bln from HUF 4 bln in the first quarter of last year.
The companyʼs management says it still considers growth its fundamental goal in 2019. It wants to preserve its existing partners and enter new market segments. The management predicts continued dynamic revenue growth and improving efficiency.
The Mészáros Group, belonging to pro-government investor Lőrinc Mészáros, a key ally of Prime Minister Viktor Orbán, is the largest stakeholder in 4iG.
Companies Spending Less on Advertising
Bulgaria's Household Income, Spending Rise 20% in 2023
Spar Magyarország Revenue Climbs Close to 16% in 2023
Hungary Launches HUF 15 bln Tourism Sector Support Program
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.
