Nitrogenmuvek revenue grows 25% in 2011

Telco

Artificial fertiliser maker Nitrogenmuvek had revenue of HUF 90bn in 2011, up 25% from a year before, CEO Istvan Blazsek told MTI on Tuesday.

The company’s after-tax profit is expected to exceed the HUF 5.5bn reported in 2010, Mr Blazsek said.

The CEO attributed the increase in revenue to developments undertaken between 2005 and 2008, all production going at a high output and the increased demand for its products.

Nitrogenmuvek employs 750 workers, including the company’s units.

The company exports about 50% of its production to neighboring countries such as the Czech Republic, Poland, Germany and Italy.

Nitrogenmuvek does not plan to hire more workers in 2012.

ADVERTISEMENT

Századvég raises GDP forecast to 7.8% Analysis

Századvég raises GDP forecast to 7.8%

Opposition parties to begin PM candidate primaries Elections

Opposition parties to begin PM candidate primaries

New editor-in-chief at Betone Studio Appointments

New editor-in-chief at Betone Studio

Budapest leaders make public transport free for under-14s City

Budapest leaders make public transport free for under-14s

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.