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Herendi Porcelánmanufaktúra posts 10% profit growth in H1

Herendi Porcelánmanufaktúra closed the first half of this year with pre-tax profit of more than HUF 300m, up 10% from the same period of 2010, CEO Attila Simon told MTI.

Revenue from porcelain sales rose 7% yr/yr, exceeding the target by 11%. Domestic sales increased 6% in the first half of 2011, with exports accounting for 75% of sales revenue.

The company had pre-tax profit of HUF 679m in 2010, with revenue growing 6% to more than HUF 4.6bn, and paid 10% dividends to shareholders from its 2010 profits.

Herendi Porcelánmanufaktúra employs 900 workers and exports its products to almost 50 countries including the USA, Japan, Italy, the UK, Russia and Arab countries.