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Videoton projects 5%-10% growth for 2010

Electronic-parts manufacturer Videoton projects 5%-10% turnover growth for 2010 based on the positive first-quarter figures, company CEO Ottó Sinkóo told MTI.

The Videoton group's sales revenue was down 12% in 2009 from HUF 96 billion in 2008 (HUF 81.5 billion after consolidation), with operating profit also down slightly.

The 100% Hungarian-owned group includes around 20 major production companies and several smaller ones, employing almost 8,000 workers.

The Videoton group plans acquisitions, including one in Ukraine, where they have already been active for more than a year, employing hundreds of workers. The group plans to spend around HUF 3 billion on investments this year. Investment spending amounted to HUF 2.5 billion last year. (MTI-Econews)