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Masterplast Group revenue flat, profit down a third in 2010

Construction-material manufacturer and distributor Masterplast Group generated revenue of €85.2 million in 2010, down 1.5% yr/yr, the company told MTI.

Masterplast said that preliminary data indicates the company had after-tax profit of around €500,000 in 2010, down from €725,000 in 2009.

The company expects revenue to rise moderately in 2011 and profits to rise substantially during the year as a result of continued cost cuts.

Masterplast Group president Dávid Tibor noted that the company's revenue was stable in 2010 in spite of a 10.1% decline in construction-sector output during the year. Tibor added that Masterplast closed units in Kosovo and Montenegro last year in order to consolidate the company's operations.

Masterplast currently maintains units in 12 countries.