HUNGARY: Globus sees 55% rise in 2002 pre-tax profits
Hungarian cannery firm Globus has reported a pre-tax profit for the first ten months of this year of HF1.84bn (US$8.1m), a 7.8% increase compared to the same period of last year. The company also announced new forecasts for full-year results. Sales revenues are now expected to be lower than previously forecast, but at HF33.6bn they are still expected to be 23% higher than last year. The company attributed the lower revenues to exchange losses on western European export orders committed before the recent strengthening of the Hungarian forint.
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