Masterplast profit falls as margins narrow
Hungarian building materials company Masterplastʼs third-quarter net income fell 9% to €1,423,000 from the same period a year earlier as margins narrowed, an earnings report released late yesterday shows.
Revenue rose 3% to €26,875,000, but direct cost of sales rose at double that pace to €22,815,000.
Masterplast blamed the narrower margin on higher feed stock costs and unfavorable exchange rate changes.
It added that payroll costs rose 5% at €1,963,000 as production activities expanded and efficiency improved.
Masterplast practically broke even on the financial profit line, improving from a €254,000 loss in the base period, which also favorably impacted the bottom line.
Masterplastʼs domestic sales generated 25% of revenue in Q3. Sales in Romania accounted for 16%.
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