BUDAPEST: Hungarian building materials manufacturer Masterplast saw a year-on-year rise of 8% in its revenue in the second quarter of the year, reaching €22.8 mln, however, the companyʼs bottom line was hit by a bigger financial loss, an earnings report published late yesterday reveals.
Data from the earnings report shows that direct cost of sales rose at the same pace as revenue, to reach €19.2 mln, while operating profit was up 14%, reaching €1.4 mln. The report noted that financial losses more than doubled to just over half a million euros, weighing on earnings. Masterplastʼs domestic sales generated 27% of total revenue in Q2, while sales in Romania accounted for 15% and sales in Serbia for 12%, the report said, adding that the company also had big sales in Croatia, Ukraine, Slovakia and Poland.
Hungarian news agency MTI reported that Masterplast had total assets of €60.4 mln on June 30, up 9% from twelve months earlier, while net assets increased 6% to €23 mln and long-term liabilities fell 9% to €6.2 mln.
