Pick Szeged sales edge lower, but margins improve

Figures

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Net revenue of salami maker Pick Szeged, a member of vertically integrated agribusiness Bonafarm, fell 2% to HUF 70.7 billion last year, an earnings report posted on the website of the Budapest Stock Exchange shows, according to a report by state news wire MTI.

Material costs fell at a quicker pace, declining 9% to HUF 47.3 bln, and payroll costs were practically flat at HUF 10.9 bln.

After-tax profit jumped 94% to HUF 10.3 bln.

Pick Szeged posted its earnings on the bourse's website because its corporate bonds are traded on the BSE's Xbond platform.

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