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FreeSoft profit edges down in 2011

Hungary's FreeSoft had net income of HUF 61 million in 2011, down from 30% from 2010, the software company said in its consolidated IFRS report late Thursday.

Revenue rose by 4% to HUF 8.62 billion

Gross margin climbed 11% to HUF 3.34 billion.

Operating profit was up 166% at HUF 225 million.

FreeSoft had net assets of HUF 2.83 billion on December 31, 2011, up 2% from twelve months earlier.