Rába Q1-Q3 profit jumps 40%

Telco

Hungarian automotive industry company Rábaʼs after-tax profit rose 40% year-on-year to HUF 716 million in the year to the end of September, an earnings report released Wednesday shows. Revenues climbed 6% to HUF 30.8 billion, state news wire MTI reported.

Rábaʼs direct costs of sales rose at a faster rate, increasing by 8% to HUF 24.2 bln, the report shows.

Gross profit climbed 2% to HUF 6.6 bln, but other operating expenses were down 3% at HUF 5.5 bln.

Export sales generated a little more than two-thirds of Rábaʼs revenues during the nine-month period.

The company had long-term liabilities of HUF 3.7 bln at the end of September, up 54% from the end of 2016.

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.

Support the BBJ

Tech