TVK profit rises as margins improve
Net income of Hungarian petrochemicals company TVK, a unit of oil and gas company MOL, rose 87% to HUF 4.8 bln in Q3 from the same period a year earlier as margins improved, an earnings report published today shows.
Revenue fell 7% to HUF 94.9 bln, but cost of raw materials and consumables dropped over 10% to HUF 82.5 bln and total operating costs were down more than 9% at HUF 88.3 bln.
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