Wellis Sales up 32% Last Year
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The net sales revenue of Hungarian hot tub maker Wellis rose 32% to HUF 50.8 billion last year, according to an annual report posted on the website of the Budapest Stock Exchange, where the company's corporate bonds are listed.
After-tax profit fell 72% to HUF 1.1 bln as the rise in costs outpaced revenue growth.
The number of hot tubs Wellis sold rose 6%. Sales in the United States accounted for one-third of the total and exports to other countries comprised 57%. Domestic sales accounted for 10% of the volume.
Wallis noted that it was forced to make more than 1,000 layoffs because of the unfavorable economic environment during the year and reduced headcount in production by 74%.
Payroll costs dropped 44% from January to December, it added.
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