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Kulcs-Soft net profit up 57% from last year

Budapest bourse traded IT company Kulcs-Soft Nyrt said net profit jumped 57% to HUF 44 million in H1 compared to the same period last year. Revenue rose to HUF 412 million, almost all of which came from domestic sales. Exports rose nearly a third to HUF 921,000, the company said, adding that costs were up 210% during the same period as it spent on adding new staff and on increasing salaries. Kulcs-Soft distributes business software products in eight countries. Last month it acquired a license to sell Apple product. The company had after-tax profit of HUF 97 million on revenue of HUF 750 million in 2009, up from profit of HUF 18 million on revenue of HUF 608 million in 2008. (MTI-Econews)