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Videoton Holding expects 5-10% revenue growth in 2016

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Contract electronics maker Videoton Holding expects its revenue will grow by 5-10% in 2016 after the firm earned HUF 154.8 bln net revenue and more than HUF 11 bln in income last year, CEO Ottó Sinkó said yesterday, according to Hungarian news agency MTI.

Sinkó said Videotonʼs success lay mostly in its growing electronics production, and that most of their products went to the automotive sector which also buys plastic and metal parts from them. 

This year Videoton spent HUF 3 bln from its own funds on investments and this is expected to grow by the end of 2016, Sinkó added. 

The CEO said labor market conditions were "tight" and that future growth of the firm could be impeded by the lack of workers, a problem that could be balanced by improving efficiency.

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