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Matusz-Vad revenue leaps 19% in Q1

Hungary's Matusz-Vad, a supplier of frozen food to the catering industry, had revenue of HUF 1.5 billion in Q1, up 19% from the same period last year, marketing manager Klaudia Tanos told MTI on Monday.

Exports accounted for 17% of revenue in Q1, Tanos said. Sales in Slovakia were responsible for more than half of the company's export, while sales in Austria came to 43% of all export.

Matusz-Vad's Romanian subsidiary launched last December, Gastro Plus, saw its revenue increase 7% in Q1.

The company plans about the same revenue this year as in 2010. Matusz-Vad closed 2010 with revenue of HUF 6.47 billion, 19% more than a year before.