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Kulcs-Soft profit jumps 51% in Q1-Q3

Hungarian software developer Kulcs-Soft had net income of HUF 71 million in Q1-Q3, up 51% from the same period a year earlier as revenue rose and material costs fell, the company's Hungarian Accounting Standards report shows.

Revenue rose 20% to HUF 636 million during the period. At the same time, material costs fell 25% to HUF 277 million. Payroll costs, however, about doubled to HUF 219 million. (MTI – Econews)