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Externet takes major dive

Listed Hungarian ISP Externet said it sustained after-tax losses of HUF 78.1 million in H1 of 2009, roughly equaling in volume its 2008 profits for the same period of HUF 73.3 million, the company announced in its business report for the period.

In the first six months of the year it saw a 15% or HUF 217 million slump in revenues year-on-year leading to a consolidated revenue total of HUF 1.216 billion.

The company blamed the results on the economic crisis as well as deficiencies in the regulatory environment that led to retail profit gaps narrowing in the ISP sector. (Gazdasági Rádió)