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Companies in ÁPV portfolio generate Ft 49.8 bln in profits

Eighty-two of the 130 companies in the portfolio of the State Privatization and Holding (ÁPV) Rt along with the two companies under its direct ownership generated profits last year, the ÁPV announced on Friday. The combined profit of these companies on the stake held by ÁPV reached a combined Ft 62.118 billion after taxation in 2005. The loss-making firms had combined losses of Ft 12.3 billion in proportion to their state-owned stakes, ÁPV said. ÁPV deputy-director Ákos Macher said 82 of the companies in ÁPV's portfolio generated profits, 50 broke even and only 15 had losses last year. In 2004, the 140 companies then in ÁPV's portfolio had combined net profits of Ft 69.093 billion, with the hundred profitable companies generating earnings of Ft 83.966 billion and the 40 loss-making ones racking up losses of Ft 14.873 billion.