Rába Q1-Q3 profit jumps 40%
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.
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