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Alteo Q1 earnings climb on higher revenue, wider margin

Analysis

First-quarter after-tax profit of listed alternative energy company ALTEO rose 137% year-on-year to HUF 927 million, state news wire MTI says, citing an earnings report released ahead of the opening bell on Monday.

Revenue rose 5% to HUF 9.48 billion. Material costs fell 11% to HUF 5.94 bln, lifting operating profit 171% to HUF 1.45 bln.

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