Graphisoft Park Q1 after-tax profit falls 31% on declining revenue, rising costs

Telco

Graphisoft Park, a company that owns and operates a business park in the north of Budapest, had after-tax profit of €349,000 in the first quarter, down 31.03% from Q1 last year on declining revenue and increasing operating costs, Graphisoft Park announced in its consolidated, unaudited IFRS report on Wednesday. Revenue fell 4.3% to €2.02 million. Operating costs more than doubled to €334,000 from €152,000 in the base period. Operating profit was down 27.8% to €766,000. Interest expenses dropped 25.5% to €331,000. Last year, Graphisoft Park had after-tax profit of €1.84 million, up 28% from 2011, on revenue of €8.29 million, up 3.06%. Full-year net interest expenses were €1.59 million, down 22.9%. The company is paying HUF 406 million in dividends this year on last year's profit, or €1.39 million calculated at the forint-euro exchange rate on December 31, 2012. The rest is owed for treasury shares and going into profit reserves. Dividend-per-share is HUF 40, up from HUF 35 a year earlier.

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