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Balaton Sound profit rises 50%

This year's Balaton Sound summer music festival, held between in July 9-12, generated profit of HUF 200 million, about 50% more than in 2008, econet.hu, which owns a 26% stake in the festival's organizer Sziget, said on Monday.

Econet.hu's unit Est Media Group plans to raise its stake in Sziget to 75% by 2013. By then, Sziget is seen generating turnover of HUF 3.5 billion-4.0 billion and EBITDA of HUF 800 million. (MTI-ECONEWS)