Pretax profit rose 60% to Ft 1.81 billion ($9.3 million) from Ft 1.13 billion in 2005, Budapest-based Danubius Hotels Nyrt said in a statement to the Budapest Stock Exchange today. Sales were Ft 47.3 billion, 11% higher than in 2005. Danubius is Eastern Europe’s second-largest hotelier by market value behind Poland’s Orbis SA, with units in the Czech Republic, Romania, Slovakia and London.
The company benefited from gains by East European currencies last year, as the Slovak koruna and Romanian leu were the world’s best performers, the Czech koruna was fourth and the Hungarian forint was ninth. Shares of Danubius have climbed 7% this year, valuing the company at Ft 62.6 billion. Hungary’s benchmark BUX Index has lost 3.1% this year. The hotelier is majority-owned by Britain’s CP Holdings Ltd. (Bloomberg)
Producing journalism that is worthy of the name is a costly business. For over 30 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.
