Alteo H1 Earnings Climb 10%
First-half after-tax profit of listed alternative energy company Alteo rose 10% year-on-year to HUF 8.8 billion, state news wire MTI writes, citing an earnings report released on Monday.
Revenue increased 55% to HUF 58.9 bln, but material expenditures climbed 72% to HUF 37.9 bln and "other costs" jumped 162% to HUF 4.7 bln, boosted by a windfall profit tax.
Earnings per share came to HUF 451 for the period.
Hungarian oil and gas company MOL partnered with two local private equity funds to acquire a controlling stake in Alteo in a buyout offer in the spring.
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.