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Démász net profit up 23.5% in January-September

Electricity distributor for southern Hungary Démász Rt had net profit of Ft 5.01 billion (€20.06 million) in the first nine months of 2005, up 23.5% from the same period a year earlier, the company said in its preliminary consolidated report, calculated according to International Financial Reporting Standards (IFRS) and published on Friday. In the third quarter, net profit rose 29.4% to Ft 2.37 billion, well in excess of the net profit of Ft 1.65 billion expected by analysts for the period. Démász' revenue from the sale of electricity and heat rose 10.1% to Ft 65.31 billion in the first nine months of 2005. Gross profit amounted to Ft 19.99 billion in January-September, up 5.2% from a year earlier. Nine-month operating profit increased 14.2% year on year to Ft 6.81 billion. Démász reported earnings per share (EPS) of Ft 1.353 in January-September 2005, up from Ft 1.096 a year earlier. Nine-month EBITDA increased 8.4% to Ft 12.66 billion.