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Balaton Shipping expects 7.5% increase in revenue this year

Passenger-sailing company Balaton Shipping Company expects to generate revenue of HUF 2.15 billion this year, up from HUF 2 billion last year, the business daily Napi Gazdaság reported on Thursday.

The 165-year-old company operates ferry, pleasure- and charter-boat services as well as eleven yacht ports on Lake Balaton in central Hungary.

Balaton Shipping Company CEO Gyula Horváth told the newspaper that the company missed its 2010 revenue target by HUF 170 million partially as a result of stormy weather that prevented sailing on Lake Balaton for eleven days last year.

They expect the number of passengers to rise 4-5% after a drop last year.

Balaton Shipping Company will finish the HUF 65m first phase of a HUF 250 million renovation of its port in Siófok by this summer, Horváth noted.

The Balaton Shipping Company, which had pre-tax profit of HUF 95 million-HUF 96 million in 2010, is owned by 22 local councils.