Állami Nyomda first-half profit leaps on higher revenue, receding costs

Music

Hungarian printing-company Állami Nyomda posted net profit of HUF 451.6 million in first half of 2011, up 76.7% yr/yr, as revenue rose 9.6% in H1, while the cost of sales increased only 5.6% during the period, the company's first-half unaudited, consolidated IFRS report published on Tuesday evening showed.

Állami Nyomda generated consolidated revenue of HUF 8.67 billion in the first half of 2011, compared to consolidated revenue of HUF 7.92 billion in H1 of 2010, while the company paid HUF 6.41 billion in direct sales costs during the first six months of 2011, compared to direct sales costs of HUF 6.06 billion during the same period in 2010.

The company's gross margin rose 22.5% yr/yr to HUF 2.27 billion in first half of 2011.

Állami Nyomda generated revenue of HUF 3.31 billion from secure documents products in the first half of 2011, up 21.05% yr/yr, revenue of HUF 1.89 billion from the printing of personal identification cards, up 15.99% yr/yr, and revenue of HUF 424 million, up 9.28% yr/yr, during the period.

The company generated revenue of HUF 2.81 billion from printing forms with personal data and data processing in the first half of 2011, down 3.73% yr/yr.

Állami Nyomda is an A-category issuer at the Budapest Stock Exchange. Formerly the official printing house of the Hungarian government, it was 100% privatized in 1993, but retained its brand name which means "State-owned Printing Press". Its largest shareholders with a 51.12% majority among them are EG Capital, Aegon and Genesis Emerging Markets Opportunities Fund.

ADVERTISEMENT

Business confidence falls slightly in June Analysis

Business confidence falls slightly in June

Lawmakers approve 2022 budget Parliament

Lawmakers approve 2022 budget

Duncan Graham reelected as BCCH president Appointments

Duncan Graham reelected as BCCH president

Budapest launches revamped coupon card for visitors City

Budapest launches revamped coupon card for visitors

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.