Exports lift ANY revenue, but profit edges down
After-tax profits of Hungarian security printing company ANY Nyrt. edged down 3.2% to HUF 1.54 billion last year as margins narrowed, according to an earnings report released late Monday by the Budapest Stock Exchange-listed firm.
Net sales increased 5.1% to HUF 26.18 bln, but direct costs of sales outpaced that growth, climbing 5.6% to HUF 18.19 bln, according to a summary of the report by state news wire MTI.
Gross profit was up 3.9% at HUF 7.99 bln, but a big rise in sales and administration costs - up 13.8% at HUF 6.01 bln - weighed heavily. Operating profit was down 7.6% at HUF 2.00 bln.
ANY noted that exports accounted for 42% of revenues, a five percentage-point increase over the previous year.
ANY said its board is proposing payment of a HUF 79 per-share dividend, accounting for all of 2017 earnings.
ANY Biztonsági Nyomda Nyrt. is one of the largest security printing companies in Hungary and the CEE region. Previously, the company produced traditional printing products, but today it focuses on document security solutions, plastic card production and personalization, electronic document management and bulk transactional printing.
The company’s shares have been listed in the Premium category of the Budapest Stock Exchange since December 2005.
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