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Pannunion books solid growth in first half

Hungarian plastic packaging company Pannunion Group posted pre-tax profit of HUF 253 million on revenue of HUF 4.25 billion in the second quarter of 2011, up from pre-tax losses of HUF 201 million on revenue of HUF 3.7 billion a year earlier, the company announced in its consolidated, unaudited second-quarter IFRS report following the close of markets on Friday evening.

Pannunion Group had pre-tax profit of HUF 590 million on revenue of HUF 8.17 billion in the first half of 2011, up from pre-tax profit of HUF 39 million on revenue of HUF 7.19 billion in H1 2010

The company had EBITDA of HUF 624 million in the second quarter of 2011, compared to EBITDA of HUF 505 million in Q2 2010, and EBITDA of HUF 1.09 billion in first half of 2011, compared to EBITDA of HUF 980 million in H1 2010.

Pannunion Group is a B-category issuer at the Budapest Stock Exchange.