Zsolnay breaks even in 2004
Wednesday, June 22, 2005, 10:59
Zsolnay Porcelain Rt, the state-owned porcelain maker which produces one of Hungary's best-known marks, broke even in 2004 on record turnover of Ft 1.2 billion, business daily Napi Gazdaság reported. In 2003, Zsolnay had losses of Ft 700 million on revenue of Ft 1.1 billion. Exports accounted for 10% of sales last year. Zsolnay employs 338 people at its factory in Pécs (SW Hungary), which produces 400,000 objects a year. Zsolnay was transferred to the State Privatization and Holding Company (ÁPV) in 2003 in preparation for its privatization, but no plans for a sale were ever announced. CEO Gyula Kovács said on Tuesday that the state would sell Zsolnay when the government wished.