Hungarian canned and frozen food company Globus has reported a first-quarter loss compared to a year-earlier profit, as sales rose just 1.2%.

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Globus posted an after-tax loss of HUF101.9m (US$0.48m) in the January to March quarter, compared to an after-tax profit of HUF881.9m in the year-ago period. Sales rose 1.2% to HUF7.30bn.


The company said the small sales increase was due to a one-off sale order in the year-ago period of HUF1.6bn, reported Reuters.


Globus said its domestic sales in the first quarter fell 8.5% to HUF4.51bn, while exports climbed 22.2% to HUF2.79bn.

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