Rába Q4 after-tax profit jumps 57.8% on rising financial and other revenues
Hungarian automotive-industry company Rába reported after-tax profit of HUF 1.106 bln in the fourth quarter of 2014, up 57.8% from a year earlier on rising revenues, but for the entire year, profits were lower – due to the forint's weaker exchange rate and a one-off financial payment from a year ago from sale of interest in Fehrer Automotive-Rába.
The company said it generated turnover of HUF 14.01 bln in Q4, up 9.8%. Rába had a financial loss of HUF 141 mln in the fourth quarter, up from a loss of HUF 15.6 mln a year earlier. For all of last year, Rába had after-tax profit of HUF 852 mln, down 68.1% from HUF 2.67 bln in 2013, based on revenue of HUF 47.9 bln, up 0.9% from 2013.
The firm's reported financial loss was HUF 583.6 mln instead of a result of HUF 28.8 mln in 2013. Rába is a Premium-category issuer on the Budapest Stock Exchange.
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