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Mezőhegyesi Ménesbirtok expects to close 2011 in the black

Hungarian-owned agribusiness Mezőhegyesi Ménesbirtok expects to close 2011 with profit of HUF 180m on revenue of HUF 5.5bn, CEO Mihály Kun told MTI on Friday.

Mezőhegyesi Ménesbirtok racked up a HUF 900m loss in 2010 because of storm damage, Kun said. The storms resulted in lost revenue of about HUF 3bn, he added.

Average yield of Mezőhegyesi Ménesbirtok’s fields was 7.3 tons per hectare for wheat and 3.6 tons per hectare for maize this year.

Mezőhegyesi Ménesbirtok farms about 8,000 hectares of land. The company employs 450 people.