Acquisitions, bigger order book lift 4iG earnings

Figures

Image: Facebook

Listed IT company 4iG had after-tax profit of HUF 2.9 billion in Q1-Q3, up 56% from the same period a year earlier, supported by acquisitions and a growing order book, state news wire MTI writes, citing an earnings report released on Thursday.

Net revenue jumped 58% to HUF 53 bln during the period.

Operating profit slipped 13% to HUF 2 bln on higher depreciation.

4iG said it aims to become the "number one" systems integration company in Hungary, in all areas of IT, and a "dominant player" in Central and Eastern Europe and South-East Europe.

It added that "strong growth" of the group is expected to continue in Q4, "supported by acquisitions and organic growth".

ADVERTISEMENT

IWG Opens New Regus Center in Biatorbágy Analysis

IWG Opens New Regus Center in Biatorbágy

Parliament Negates Mandatory Membership in MOK Parliament

Parliament Negates Mandatory Membership in MOK

MNB Grants License to Local iBanFirst Fintech Branch Fintech

MNB Grants License to Local iBanFirst Fintech Branch

Meet the Expat CEO of the Year Nominees Awards

Meet the Expat CEO of the Year Nominees

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.