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FreeSoft hardware unit drags group into red

Hungarian IT company FreeSoft on Tuesday reported a HUF 124 million consolidated first-half loss as its hardware unit slipped into the red.

Revenue at FreeSoft's IT services units, Axis and BankSoft, as well as at the parent company grew, and cost-cuts improved profitability. But revenue at hardware seller HUMANsoft fell and the unit made a loss.

FreeSoft's consolidated revenue rose 4% to HUF 4 million in H1 from the same period a year earlier. Operating losses grew 60% to HUF 233 million. (MTI-ECONEWS)