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Masterplast H1 earnings climb 21% as sales rise

First-half after-tax profit of Hungarian building materials company Masterplast rose 21% year-on-year to EUR 2,061,000 as revenue climbed, an earnings report released early Tuesday shows, state news wire MTI reports.

Revenue climbed 11% to EUR 50,575,000. Direct cost of sales rose at the same pace, reaching EUR 41,070,000.

The rise in profit was also supported by EUR 152,000 in "other operating revenue", compared to a EUR 122,000 expense in the base period, and a modest financial gain.

Masterplastʼs domestic sales generated 37% of revenue. Sales in Romania made up 11%, and sales in Serbia and Poland each accounted for 8% of the total.

Masterplast said it expects a "positive construction environment" in the second half of the year, adding that growing output and efficiency would ensure the company reaches its annual sales and operating profit targets.