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Pannonplast Q2 loss narrows on cuts

Plastics maker, Pannonplast Rt, said its second-quarter loss narrowed as the company cut costs to counter a drop in sales, business daily Világgazdaság reported. The loss was Ft 139 million, compared with a loss of Ft 604 million in the year-earlier period, the company said July 30 in a statement. Revenue fell 13% to Ft 6.3 billion from a year ago as Pannonplast sold four units and the forint strengthened. Costs fell 11 % to Ft 4.9 billion.