Démász H1 net profits drop 3.3% to Ft 2.56 bln
Electricity distributor for Southern Hungary Démász Nyrt, majority owned by Electricite de France, had net profits of Ft 2.56 billion (€9.4 million) in the first half of 2006, down 3.3% from the previous year, the company said in its unaudited consolidated flash report, prepared according to International Financial Reporting Standards (IFRS) and published on Thursday.
Second-quarter net profit was Ft 1.3 billion, down by a sharp 18.2% from a high base that was boosted by a one-off item a year earlier. Excluding the one-off item, Q2 net profit rose 9%, the report noted.
The company’s revenue from electricity sales increased 23.9% year-on-year to Ft 52.54 billion in January-June 2006. Q2 revenue rose 20.7% to Ft 25.4 billion.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 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.