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Karsai Plastic Holding expects pre-tax profit to more than double this year

Karsai Plastic Holding Plc projects pre-tax profit of HUF 962 million in 2011, more than double of the HUF 420 million generated in 2010, company president Béla Karsai announced.

Karsai Plastic Holding targets revenue of HUF 9 billion in 2011, up more than 15% from HUF 7.8 billion in 2010. The seven-company holding's revenue rose 10% last year after falling 12% in 2009 and 7% in 2008 as a result of the global financial and economic crisis.

The company plans to make investments of around HUF 1.2 billion this year, including a HUF 600 million investment at Kunsplast Karsai in Kiskunfélegyháza to make it possible for the plant to supply the Daimler factory being built in the nearby city of Kecskemét and a HUF 400 million investment to build an 1,800-square-meter production hall at Karsai Alba in Székesfehérvár, Karsai said. The latter investment is expected to be completed this spring, creating 50 new jobs.

The holding spent around HUF 5 billion on developments in the past five years.

Karsai Plastic Holding currently employs 780 people. (MTI – Econews)