The Hungarian unit of Swiss food company Nestlé had after-tax profit of Ft 3.5 billion on revenue of Ft 82 billion in 2005, 15% and 16.2% more, respectively, than a year earlier, Nestlé Hungária Kft CEO Laurent Freixe announced on Thursday.
Freixe said after-tax profits were up mainly because of tax write-offs on investments and the consolidation of Nestlé Ice Cream Hungária Kft, formerly Schöller. Pre-tax profits increased just 4.5% to Ft 3.5 billion.
Products made in Hungary accounted for half of sales, and 40% of revenue was from exports. Big increases were seen in sales of pet food and coffee in 2005, Freixe said.
Nestlé spent Ft 2.6 billion on investments in 2006, 13% more than a year before. It was the second year in a row Nestlé spent more than Ft 2 billion on investments in Hungary, Freixe noted.