Are you sure?

Nitrogénművek profit more than doubles in 2010

Chemical company Nitrogénművek said net profit increased to HUF 4.1 billion in 2010 from HUF 1.6 billion a year earlier.

Nitrogénművek had revenue of HUF 64.7 billion in 2010, well 50% up from revenue of HUF 42.98 billion in 2009, the company said in its annual report released on Thursday.

Nitrogénművek sold 1 million tons of fertilizer in 2010, the largest amount in the company's eighty years of operation.

Revenue from fertilizer sold in Hungary rose to HUF 35.2 billion. Export accounted for 45.5% of sales last year, up from 40% in 2009, and was worth almost HUF 30 billion.

Nitrogénművek employs almost 700 people, and sells its products in Germany, Poland, Austria, the Czech Republic and Italy, Serbia, Slovakia and Slovenia.

The company is part of the Bige Holding group.