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Agribusiness Mezőhegyesi expects HUF 600m loss after storm

Hungarian agribusiness Mezőhegyesi Ménesbirtok expects to rack up a HUF 600 million loss in 2010 because of a recent storm, CEO Mihály Kun told MTI.

A hailstorm on June 18 completely destroyed crops growing on three-fourths of the 8,000 hectares which Mezőhegyesi cultivates, Kun said. Revenue is set to fall to HUF 2.8 billion –HUF 3.2 billion this year from HUF 6.1 billion in 2009, he added.

Last year, the company had profit of HUF 200 million. (MTI-Econews)