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IKO Telekom Media profits increase 30% in 2005

IKO Telekom Media Holding, one of Hungary's biggest interactive text messaging, wireless content and wireless marketing companies, had after-tax profit of Ft 1 billion in 2005, 30% more than in the previous year, president Bence Makai said on Wednesday.

Revenue in 2005 remained flat at Ft 10 billion.
IKO controls 30% of Hungary's wireless content market, which expanded 20% to more than Ft 12 billion in 2005.
IKO's unit IKO New Media, which handles interactive text messaging and wireless content, had profits of Ft 495 million in 2005, 63% more than in the previous year. Revenue, however, fell to Ft 2.165 billion from Ft 2.35 billion because the company was forced to lower prices in order to remain competitive.
IKO is owned in equal part by IKO Production and Magyar Telekom Nyrt. IKO, in turn, owns 31% of commercial TV station Magyar RTL.