Are you sure?

Volán bus companies double pre-tax profit last year

Hungary's 24 state-owned regional Volán bus companies posted pre-tax profit of HUF 2.27 billion (€8.1 million) in 2009, compared to pre-tax profit of HUF 875 million in 2008 discounting HUF 5 billion in compensation that they received from the government during the latter year, Hungarian National Asset Manager (MNV) informed MTI on Wednesday.

The National Asset Manager Council approved the annual report of the Volán companies as well as the reports of the 19 state-owned forestry firms managed by the MNV on Wednesday.

The Volán bus companies generated revenue of HUF 172 billion in 2009, down 6% from HUF 183 billion in 2008.

The Volán companies derived 44.6% of their 2009 operating revenue from price supplements, cost reimbursements as well as normative and local-council support, compared to 40.3% in 2008. The companies carried 480m passengers in 2009, down 15% yr/yr.

The 19 forestry companies had combined pre-tax profit of HUF 1.86 billion on revenue of HUF 69.8 billion in 2009. (MTI-Econews)