Rate-setters say banking system stable, but ability to support growth weakened

A reduced willingness to lend still contributed to credit supply constraints, but deteriorating lending capacity raises the risk of a credit crunch, Monetary Council says.
FinanceThursday, 18:45 April 26., 2012 Read more

Tax office initiates removal of businesses from company register for failure to report

Companies not submitting a report can be fined as much as HUF 1.5 million.
BusinessWednesday, 11:15 April 25., 2012 Read more

Erste Group books €566.6 mln loss at business in Hungary

The Austrian banking group forecast a mild negative performance for Hungary in 2012.
FinanceWednesday, 16:30 February 29., 2012 Read more

Narrowing margins, financial loss puts TVK in red

Full-year revenue was up by 13% but operating costs climbed at a faster rate.
BusinessFriday, 14:05 February 24., 2012 Read more

Higher revenue, improved margin lift Rába bottom line

Hungarian vehicle and vehicle parts maker Rába had net income of HUF 1.72 billion in the fourth quarter of last year, which is a big improvement compared to a HUF 283 million loss in the base period.
BusinessWednesday, 15:45 February 15., 2012 Read more

Delegations discuss OECD draft report on Hungary’s economy

Representatives from Hungary, the Organization of Economic Cooperation and Development (OECD) Secretariat, all of the organization’s 34 member states, the European Commission and the International Monetary Fund met at the OECD’s headquarters in Paris on Tuesday to discuss the draft of the organization’s regular report on the Hungarian economy.
EconomyWednesday, 11:20 January 18., 2012 Read more

Carbonex unprofitable for first time last year

Carbonex, a company that deals primarily in retail sale of coal, was unprofitable for the first time in its twenty-year history last year, Carbonex CEO Deszo Bodi told the business daily Vilaggazdasag in an interview published on Monday. 
BusinessMonday, 11:20 January 9., 2012 Read more

Draft IMF report says Hungary needs bigger reserves, stability package - paper

A precautionary programme from the International Monetary Fund, prepared in the framework of a strict fiscal policy, could help ease existing tensions in Hungary by increasing reserves and introducing a package of stability measures, according to a report prepared for a meeting of the IMF board on January 18 obtained by business weekly Figyelo.
EconomyFriday, 17:20 January 6., 2012 Read more

PannonMill revenue climbs over HUF 19bn in 2010/11 as wheat prices rise

Hungarian milling company PannonMill Malomipari closed its business year ended September 30 with net revenue of HUF 19.1bn, well over the HUF 11.5bn in the previous year because of higher wheat prices, chairman-CEO Zoltan Poor said at a press conference on Thursday.
BusinessThursday, 17:20 December 8., 2011 Read more

Nestle Hungaria revenue slips to HUF 83.5bn in 2010

The Hungarian unit of Swiss food giant Nestle had profit of HUF 1.9bn on revenue of HUF 83.5bn in 2010, down from HUF 3.8bn and HUF 84.6bn, respectively, in the previous year, Nestle Hungaria said on Thursday.
BusinessThursday, 15:25 December 8., 2011 Read more

S Immo EBITDA, revenue climb in Q1-Q3

The Hungarian unit of Austrian property investor S Immo had revenue of €19.8m in Q1-Q3, up €870,000 from the same period a year earlier, S Immo’s head in Hungary Katalin Sermer said at a press conference on Wednesday.
BusinessWednesday, 15:10 December 7., 2011 Read more

E-Star Alternative Q3 revenue jumps on EETEK acquisition

Hungarian energy service company E-Star Alternative’s third-quarter revenue climbed 120% to €48.2m from the same period a year earlier, lifted by its acquisition of Polish peer EETEK, the company’s consolidated IFRS report for the period published late Friday shows.
BusinessMonday, 15:15 November 28., 2011 Read more

Est Media losses increase on one-off items in Q1-Q3

Hungarian media and event organising company Est Media had consolidated losses of HUF 783m in Q1-Q3 2011, up 38.6pc from the same period of 2010.
BusinessMonday, 11:20 November 21., 2011 Read more

BayernLB blames Q3 losses on Hungarian fx repayment scheme

Germany’s Bayerische Landesbank (BayernLB) attributed its third-quarter pre-tax losses of €92m to losses sustained at Hungarian unit MKB Bank as a result of the Hungarian government’s early repayment scheme for foreign-currency home loans, BayernLB said after publishing its Q3 earnings on Wednesday.
BusinessThursday, 11:40 November 17., 2011 Read more

Siemens Hungary profit jumps 77% in 2010/11 business year

German engineering giant Siemens’ after-tax profit in Hungary jumped 76.8% to HUF 7.1bn in its business year ended September 30, chairman-CEO of the company’s Hungarian unit Dale A Martin said at a press conference on Wednesday.
BusinessWednesday, 13:15 November 16., 2011 Read more

AAA Auto profits climb as market improves

Prague-based used car seller AAA Auto’s net profit climbed 53% to €5.2m in Q1-Q3 from the same period a year as the market improved, the company said in its consolidated report published Wednesday.
BusinessWednesday, 09:50 November 16., 2011 Read more

Financial losses weigh on Danubius Hotels bottom line

Danubius Hotels’ third-quarter net income plunged 82% to HUF 542m from the same period a year earlier, dragged down by a big financial loss, the company’s consolidated IFRS report published late Tuesday shows.
BusinessTuesday, 17:50 November 15., 2011 Read more

MOL Q3 profit falls as margins narrow, financial losses grow

Net income of Hungary’s MOL fell 60% to HUF 36.4bn in the third quarter from the same period a year earlier as margins narrowed and financial losses grew, the oil and gas company’s consolidated IFRS report published early Tuesday shows.
BusinessTuesday, 10:00 November 15., 2011 Read more

Bank levy, early repayment scheme weigh on K&H Bank Q1-Q3 earnings

K&H Bank had consolidated IFRS after-tax profit of HUF 100m in Q1-Q3, CEO Hendrik Scheerlinck said in Budapest on Monday.
BusinessMonday, 15:00 November 14., 2011 Read more

Improved margin lifts Zwack Unicum profit 20% in H1

After-tax profit of Zwack Unicum, Hungary’s most famous spirits maker, rose 20.2% to HUF 894m in the first half of its business year started April 1 from the same period a year earlier as margins improved, the company’s IFRS report published late Thursday shows.
BusinessFriday, 09:40 November 4., 2011 Read more

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