Phylaxia slips into red in Q1 on financial losses, base effect
Asset-management company Phylaxia 1912 Holding had after-tax losses of HUF 6.1 million in the first quarter of 2013, compared to after-tax profit of HUF 68.4 million in Q1 of 2012 on financial losses and patent usage-fees received under a court ruling and boosting income in the base period, the company announced in its consolidated IFRS report for the period on Tuesday. Phylaxia had financial losses of 67.8 million in the first quarter of 2013, compared to financial gains of HUF 25.6 million in Q1 of 2012, mostly reflecting interest-payment obligations. Phylaxia had net revenue from sales of HUF 150.4 million in the first quarter, up 25% yr/yr, and operating costs of HUF 111.3 million during the period, down 30% yr/yr. Phylaxia 1912 Holding is a B-category issuer at the Budapest Stock Exchange.
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