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Univer Product expects stagnating revenue in 2011

Univer Product's management expects the Hungarian-owned food company's revenue to be close to the HUF 15.1bn in 2010, CEO Károly Molitorisz said at a press conference on Wednesday.

Univer Product had first-half revenue of HUF 7.5bn, including export revenue of HUF 1.1bn, Molitorisz said. Pre-tax profit came to HUF 224m in the period, he added

Last year, Univer Product's revenue climbed 3%, Molitorisz said when asked by MTI.

This year, the company will spend about HUF 1bn on raw materials, which it only buys from domestic suppliers. It is spending more than HUF 300m on developments this year.