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Pannonplast to report profit

Plastic maker Pannonplast Nyrt plans to publish its 2006 preliminary report on Thursday. The company is expected to post a profit of Ft 1 billion.

After four years of nearly Ft 5 billion deficit, in 2006 Pannonplast Nyrt regained profitability. The over Ft 1 billion balance sheet footing might have been increased by Ft 100 – Ft 200 million, say analysts, but Q4 probably saw a weaker performance.

This is mainly due to some one-off costs related to the search for partners in the plastic division and property sales, said Erste analyst Levente Blahó. The effective asset management also contributed to the success of the last year, said Zoltán Réczey from Buda-Cash. The investment in Synergon shares yielded a Ft 300 million profit in Q3. (Napi Gazdaság)