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Bookline.hu reduces losses with bigger margin

Hungarian bookseller Bookline.hu's first-half losses narrowed to HUF 18 million from HUF 77 million in the same period a year earlier as its margin widened, the company's Hungarian Accounting Standards report published late Wednesday shows. 

Net sales revenue fell 4% to HUF 1.65 billion. Material costs fell at twice that rate, dropping 8% to HUF 1.41 billion, and payroll costs edged up a little more than 1% to HUF 189 million, causing losses at operating level to narrow to HUF 24 millio from HUF 79 million.

Bookline.hu had total assets of HUF 1.87 billion on June 30, down 5% from twelve months earlier. Net assets were up 8% at HUF 1.29 billion.