Hungarian conned and frozen food manufacturer Globus has reported a 60% rise in 2002 pre-tax profit to 1.75bn forints (US$7.7m), compared to 1.09bn forints in 2001.

The company said its sales were up 18.5% to 32.4bn forints, while earnings before interest and tax were up 47% to 1.83bn forints.

Globus said its exports rose 19% to 11.62bn forints but the strong performance of the Hungarian forint knocked around 700m forints off the value. On the other hand, Globus said it made 603m forints in income on its foreign currency loans.

“The Globus group not only achieved but even exceeded its annual (pre-tax profit) target of 1.52bn forints by 230m forints,” Reuters quoted the company as saying.