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Pannunion Q1-Q3 net income reaches HUF 338 m as revenue grows

Hungary's Pannunion had net income of HUF 338 million in Q1-Q3, up sharply from HUF 53 million in the same period a year earlier lifted by rising revenue, the packaging company's consolidated IFRS report for the period shows.

Sales revenue climbed 20 % to HUF 10.96bn during the period. Costs rose at a faster clip, increasing 23.5 % to HUF 8.34 billion. Gross margin was up about 11 % at HUF 2.28 billion.

EBITDA rose 9 % to HUF 1.12 billion.

Pannunion had net assets of HUF 3.63 billion on September 30, 10 % more than at the end of 2009. (MTI Econews)