ADVERTISEMENT

Linamar H1 profit rises 19% on improved efficiency

Telco

Farm machinery and automotive parts maker Linamar Hungary's first-half profit rose 19% to Ft 771 million from the same period a year earlier as efficiency improved.

Revenue rose 11% to Ft 15.9 billion. Cost of sales rose at faster clip, increasing 12% to Ft 13.8 billion, but Linamar cut back “selling expenses” 20% to Ft 320 million and administrative costs 23% to Ft 221 million, the company said in its IFRS report for the period published on Wednesday.

Operating profit rose 19% to Ft 1.1 billion. Pre-tax profit also rose 19% to Ft 1.1 billion.

Linamar's automotive component and precision machining division generated 59% of sales and its farm and general machinery segment accounted for 41%.

Linamar had total assets of Ft 23.6 billion on June 30, 2008, 6% more than twelve months earlier. Net assets rose 11% to Ft 18.5 billion. (MTI – Econews)

ADVERTISEMENT

Czech economic confidence weakens in November Analysis

Czech economic confidence weakens in November

Lawmakers approve residency permit for digital nomads Parliament

Lawmakers approve residency permit for digital nomads

The strongest move - Morgan Stanley Hungary head and Chess F... Podcasts

The strongest move - Morgan Stanley Hungary head and Chess F...

New Jewish cultural hub opens in Budapest City

New Jewish cultural hub opens in Budapest

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.