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Bourse-listed Hungarian energy efficiency company RFV said net profit on group level tripled to nearly HUF 500 million in the first half of 2010 thanks to new expansion projects that doubled revenue to HUF 2.65 billion.
Last month RFV won a contract to upgrade and operate the district heating network of the city of Gheorgheni, Romania. Meanwhile an investment in west Hungary is underway.
Bottom line was propped up by an extra HUF 50 million from selling non-core businesses, RFV said. EBITDA almost doubled to HUF 781 million, though missed management’s target by 15%.
RFV plans to float new shares on the Budapest Stock Exchange next month. (BBJ)