State Printing House Plc realized increasing sales in the domestic and export markets in Q2 2006. The Company posted consolidated net sales of HUF 6.6 billion in Q2 2006, exceeding the corresponding 2005 figure by 13%. Exports increased prominently to HUF 499 million. The share of exports within total sales rose to 7.5% in Q2 2006 from the 2.5% seen in Q1 2005.
State Printing House posted consolidated net sales of HUF 6.6 billion in Q2 2006 according to IFRS, exceeding the corresponding 2005 figure by HUF 0.8 billion (13%). The subsidiaries and joint ventures established in the frame of the company’s regional expansion strategy in 2005 supported the Group’s export sales significantly in the first half of 2006. Exports amounted to HUF 499 million, an increase of HUF 352 million compared to the corresponding 2005 figure. Over HUF 433 million worth of products were sold in the Company’s strategic target markets. We achieved substantial sales growth in Romania (+ HUF 133 million), Slovakia (+ HUF 87 million) and Poland (+ HUF 72 million). The share of exports within total sales rose to 7.5% in Q2 2006 from the 2.5% seen in Q1 2005.
Consolidated operating income amounted to HUF 469 million. Net profit after interest income, taxation and minority interest is HUF 402 million.
General Manager György Gyergyák commented: “We realized increasing sales in the domestic and export markets whereas our Q2 2006 results were hampered by the rising exchange rate influencing all market players compared to the results of the corresponding 2005 period. If we disregard the impact of the rising HUF/EUR exchange rate, the Q2 2006 profit almost equals the corresponding figure of 2005. Management is fully committed to complete the financial and economic goals successfully in the first listed year at Budapest Stock Exchange.”
For further information please contact:
Mr Gábor Zsámboki, deputy general manager for sales and marketing
Phone: +36 1 431 1222