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.

Pre-tax profits are now forecast to rise to HF1.7bn, 55% higher than last year and HF176m more than was previously targeted, reported Interfax.