Synergon revenues down
Wednesday, August 10, 2005, 09:03
Systems integrator Synergon Rt said its unaudited consolidated sales revenue in H1 fell an in-line 13% to Ft 8.4 billion year on year as orders from the public sector dwindled and economic growth remained generally sluggish, business daily Napi Gazdaság reported. While only two units, Fibex and Span recorded growing sales in the first half, a steady increase in service content sales and continued cutback in the cost of sales resulted in improved efficiency, the company said. Synergon's EBITDA figure for H1 rose in excess of Ft150 million to over Ft 500 million from a year earlier, although the growth came largely thanks to a one-off Ft513 million recouped from provisions set aside earlier by the company in connection with a tax authority inquiry which ended in the convection of former CEO Zsolt Szalóczy for accepting fake invoices worth Ft 800 million on behalf of the company.