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Fotex Q1 profits rise 19% close to €1 mln

Property holding company Fotex Holding's first-quarter net income rose 19% to €932,000 from the same period a year earlier, the company said in its consolidated IFRS report for the period.

Sales revenues fell 31% to €7.93 million. Cost of sales dropped 50% to €1.90 million and operating costs fell 30% to €4.86 million.

Fotex booked a financial gain of €182,400, down 33% from the same period a year earlier.

Pre-tax profit rose 22% to €1.36 million.

Fotex had net assets of €97.45 million on March 31, 2009, 21% less than twelve months earlier. (MTI – Econews)