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Hungarian consortium develops optical distance meter

Telco

The consortium of Hungarian computer technology firm Profitrade 90 and the Budapest University of Technology's BME-Infokom Innovator Nonprofit have completed research for a single-camera optical distance measurement technology and development of related smartphone applications from nearly HUF 273.3 mln with a European Union grant of HUF 196.1 mln, the company told Hungarian news agency MTI.

Profitrade 90 employs on average 30-35 people. It had after-tax profit of HUF 13 mln on revenue of HUF 105.6 mln in 2013.

Profitrade told MTI earlier that it expects the financial results of the investments of recent years to be reflected in this year's books, but most definitely in the reports of the coming years.

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