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Phylaxia sharholders approve board proposal to pay no dividend

The board of veterinary drugs maker Phylaxia 1912 Holding approved at the company's Friday AGM the board's proposal to pay no dividend this year, Phylaxia 1912 Holding reported.

Shareholders also approved the company's unconsolidated annual report for 2010 with net loss of HUF 366 million and total assets of HUF 7.412 billion according to Hungarian accounting standards (HAS). Net losses almost doubled from HUF 189m in 2009 although the company had operating profit of HUF 671 million as against operating losses of HUF 361 million in 2009.

The company had HAS consolidated net loss of HUF 736 million in 2010, and consolidated total assets stood at HUF 9.031 billion at the end of last year.

Phylaxia shares trade in the B-category at the Budapest Stock Exchange.