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Graphisoft Park Q1 profits nearly triple

Graphisoft Park, a listed company that owns and operates a business park in the north of Budapest, had first-quarter net profit of €338,000, up 179% from the same period a year earlier as revenue rose and costs fell.

Revenue climbed 7.3% to € 1,970,000. Operating costs fell 2.4% to € 1,077,000, lifting operating profit 21.2% to €908,000.

Financial costs of €417,000 hit the bottom line hard, although they were down 25.4% from the base period.

Graphisoft Park raised guidance for the full year in the report, projecting net profit of €800,000, up from €700,000 earlier, and revenue of €7,900,000, up from €7,800,000 earlier.

Graphisoft Park had total assets of €78,585,000 on March 31, 2011, up a little more than 1% from twelve months earlier. Net debt was practically flat at €45,249,000.