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RFV 2010 profit up 68%; revenue doubles

Hungarian energy efficiency company RFV said its net profit rose 68% to HUF 1.36 billion in 2010 as revenue doubled.

Revenue was up 100% at HUF 7.83 billion, RFV's consolidated IFRS report shows.

Direct cost of sales climbed 158% to HUF 4.6 billion. Gross margin was up 52% at HUF 3.23 billion.

Operating costs climbed 72% to HUF 1.12 billion.

EBITDA was up 43% at HUF 2.11 billion. Operating profit rose 42% too HUF 1.82 billion.

Pre-tax profit rose 62% to HUF 1.77 billion.

RFV had total assets of HUF 14.72 billion on December 31, 2010, 125% more than twelve months earlier. Net assets were up 52% at HUF 3.89 billion.