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Bourse posts high turnover, Ft 1 billion profit in 2004

The Budapest Stock Exchange Rt (BÉT) closed the year 2004 with Ft 1.02 billion after-tax profit, which is 695% more than BÉT?s 2003 income and even outstrips the 2004 target by 45%. The outstanding profit finds explanation in the high turnover of the bourse, whose stocks section saw Ft 10.3 billion worth of stocks change hands on a daily average last year, which compares with Ft 7.5 billion in 2003. Another key factor was cost-effective management, BÉT said.