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Synergon Q4 profit surges on corporate orders

Computer services company Synergon Rt said fourth quarter profit rose after corporate contracts helped counter a drop in government orders.

 Synergon's net income rose 57% to Ft 364.6 million in the three months ended Dec. 31 from Ft 232.6 million a year earlier, the company said in a statement. Sales grew 7% to Ft 7.2 billion. The company has been hurt by lagging government orders as Hungary and the Czech Republic, its biggest markets, cut spending to lower budget deficits. “Though last year several government orders were canceled, we managed to reach the projected revenue,” Chairman Ferenc Czakó said at a briefing today.