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Nutex revenue more than trebles in H1

Hungarian dietary supplement maker Nutex's first-half revenue more than tripled from the same period a year earlier, but it still ended up in the red because of financial losses, the company's H1 report published late Wednesday shows.

Revenue jumped 241% to HUF 1.28 billion during the period. 

Nutex announced in March plans to expand on its existing markets this year.

Direct cost of sales were up 398% at HUF 751 million. Gross margin rose 136% to HUF 530 million.

General and administrative costs were up 133% at HUF 484 million.

Operating profit climbed to HUF 39 million from HUF 12 million.

The company booked a HUF 72 million net financial loss in H1, compared to a big HUF 273 million financial gain in the same period a year earlier.

Nutex had total assets of HUF 2.14 billion on June 30, up 1% from the end of 2010. Net assets fell 2% to HUF 1.5 billion. Long-term liabilities were up 14% at HUF 111 million.