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Videoton revenue falls 5% to HUF 76 billion in 2009

Hungarian-owned contract electronics manufacturer Videoton had consolidated revenue of HUF 76 billion in 2009, down 5% from the previous year, CEO Ottó Sinkó told MTI.

The drop in revenue was well under the 8%-10% fall projected earlier by the company's management, Sinkó said. Videoton's revenue in 2010 could exceed the HUF 80 billion in 2008, taking into account planned acquisitions, he added.

Videoton recently bought a 51% stake in alternative energy company STS Group, and it is in talks on making more acquisitions this year, Sinkó said.

“Based on the numbers until now, growth of more than 5% and even as much as 10% appears achievable,” he said.

Revenue from Videoton's automotive industry orders are expected to be weak, but the rest of the company's activities are seen developing favorably, Sinkó said. Videoton had profit of HUF 7 billion in 2009. (MTI-Econews)