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Pick Szeged sees revenue falling 10% in 2010

Pick Szeged expects its revenue to fall 10% in 2010 from last year's HUF 64 billionn, CEO László Kovács told business daily Napi Gazdaság in a piece published on Tuesday.

Sales volume is seen dropping 12%-13% in 2010, Kovács said. Sales on markets in Germany, Russia and Japan are growing quickly, but it is hard to tell how well these will compensate for the big fall in domestic demand, he added.

Exports account for 25%-26% of Pick Szeged's revenue.

The Pick Szeged logo will be displayed on the McLaren Mercedes during this year's Formula-1 Hungarian Grand Prix under a sport sponsorship agreement between Bonafarm, Pick Szeged's parent company, and mobile services company Vodafone.

Bonafarm, which also has big stakes in Hungary's dairy and wine industries, is owned by Sándor Csányi, the CEO of OTP Bank, Hungary's biggest commercial lender. (MTI-Econews)