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Kinnarps Hungary sees pre-crisis turnover returning in 2011

Kinnarps Hungary, a subsidiary of the Swedish office furniture maker and office solutions provider, expects the sector's turnover to return to pre-crisis levels in 2011, the business daily Világgazdaság said on Thursday, quoting managing director Rita Istiván.

Kinnarps Hungary had after-tax losses of HUF 23.3 million in 2009 on revenue of HUF 449.14 million compared to after-tax profit of HUF 43.26 million on revenue of HUF 631.93 million in 2008.

The Swedish Kinnarps has recently acquired the German subsidiary of the Dutch-based Samas, creating Europe's second biggest office furniture and solutions company, with projected annual sales revenue of €475 million.

Samas' products will appear in Kinnarps Hungary's product offer this year, Istiván said. (MTI-ECONEWS)