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Ajka Kristály returns to profit

Crystal company Ajka Kristály returned to a profit in the first half of this year and is planning to hire staff, managing director Zoltán Katzer told MTI on Thursday.

Ajka Kristály closed the first half of 2010 with profits of HUF 90 million, up 60% from the same period of last year, Katzer said. The company closed last year with an annual loss.

The company's operation has stabilized; the stock of orders provides work for more than four months ahead; the balance of the first six months is very positive, he added. Production has increased 66%.

“We have major debts, but we are servicing these, and we have managed to reach agreement with our creditors,” he said.

The company, which had to apply for bankruptcy protection in 2009, now employs 280 workers and plans to hire a further 15 by the end of the year.

Katzer said revenue rose 66% in the first six months to HUF 860 million. Ajka Kristály projects revenue of HUF 2 billion for this year, compared to HUF 1.8 billion in 2008. (MTI-Econews)