Are you sure?

Payer Industries Hungary posts 10% revenue increase in H1

First-half revenue of the Hungarian unit of Austria's Payer Group rose almost 10% to €17.2 million from the same period a year earlier, Payer Industries Hungary managing director Gábor Bárány-Helmik told MTI.

The unit projects revenue of €19m in the second half, Bárány-Helmik said, adding that 97% of revenues come from export sales to European countries. The unit expects to close the year in the black after booking a loss of about €400,000 in 2009, he added.

Payer Industries Hungary's plant in Ajka makes about 95% of the hair trimming devices sold in Europe.

The Austrian-headquartered company makes small electric machines such as hair trimmers and shavers; its key trade partners are Philips, Rowenta, Remington, Tchibo, and Karcher.

The company plans to increase the number of workers it employs at the Ajka plant by 40 by the end of the year from the current 530.

The Payer group has been owned since 2002 by the Malaysian Hui Holding. The group has subsidiaries in six countries including Austria, Germany, Hong Kong, Ukrainia, China. The Ajka-based plant is the group's biggest production unit. (MTI-Econews)