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Masterplast operating loss grows as margins narrow

Hungarian building materials maker Masterplast's first-quarter operating loss grew as margins narrowed, but its after-tax loss was lower because of a smaller financial loss, the company's consolidated IFRS report published Thursday shows. Revenue fell 6% to €14.0 million from the same period a year earlier. Cost of sales dropped at just half that pace to €12.4 million, causing Masterplast's operating loss to more than double to €1.2 million. The company's after-tax loss narrowed to €1.1 million from €1.2 million in the base period as financial losses decreased to €79,000 from €722,000. Masterplast had total assets of €55.8 million on March 31, up 4% from twelve months earlier. Net assets rose 2% to €20.9 million.