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FreeSoft breaks into black in 2005

Software developer FreeSoft Rt had after-tax profit of Ft 65.76 million in 2005, compared to losses of Ft 70.87 million a year earlier, according to the company's annual report, prepared with International Financial Reporting Standards and published on Friday. The report notes that because the merger FreeSoft Rt, a company limited by shares, with FreeSoft Kft, a limited liability company, on April 2, 2004, the figures for 2005 are not comparable with those from a year earlier. FreeSoft was listed in category 'B' of the Budapest Stock Exchange (BÉT) in September 2004. FreeSoft had revenue of Ft 2 billion in 2005, up 150% from the year before, and operating profit of Ft 40.8 million, compared to 2004's operating losses of Ft 130.8 million.