State Printing House Plc. reached a record 7.9 billion HUF sales in the first semester of 2010. The company increased its’ export sales as well while improving the profitability level compared to the previous quarter.
State Printing House Plc. realized net sales of 7.9 billion HUF in the first semester of 2010, which translates to 11% growth compared to the base period. The 1,180 million HUF export sales also exceed the similar period of last year by 11%. Q2 operating income reached HUF 147 million, while net income amounted to 101 million and the EBITDA was 318 million HUF. All of these figures exceeded the first quarter performance.
The trends outlined by the figures indicate that the profits – temporarily decreased due to structural changes implemented in inventories – shall revert to the previous levels together with the gradual decrease in stocks by the end of this year.� The encouraging prospects are supported by the fact that on the one hand the Printing house regained its cash-generating ability and that on the other hand all high value-added segments showed growth. The rising path is further strengthened by the acquisition announced in July, which will provide serious growth opportunities on the foreign markets. In light of these, the company can deliver the double-digit increase in turnover earlier communicated by the Company for 2010.
“We shall achieve our strategic goals despite the uncertainties generated by the economic crisis. We promised that besides the growth in sales, the increase in profits shall also be perceivable by year-end. We shall keep this promise, and we deem our prospects as definitely favorable based on the hard work of the past quarters. The decrease of our inventories yielding lower income, the gradually returning profitability and our acquisition deemed attractive all form a cause for confidence for our investors“ – declared Gábor Zsámboki, CEO of� State Printing House Plc.
State Printing House Plc.