• In the first half of 2009 sales revenues totaled 8,402 mHUF, an increase of 27% over the value reached in the first half of 2008. The determining factor in the increase was the growing sales revenue of Hungarian subsidiaries; in the first half of 2009 it exceeded by 31% the corresponding value of the previous year. Within sales revenue service contents reached a high value, i.e. 73%.

•  In the first six months of 2009 the Group produced a consolidated operating profit of 205 million HUF, which is an improvement of over 600 mHUF compared to the previous year, primarily owing to significantly higher contribution contents and the high ratio of services within sales.

•  The net loss on financial transactions totalled 17 mHUF, which reflects a gain of 113 mHUF arising from the opened and closed treasury share futures transaction, the losses on FX futures transactions of member companies and the outstanding valuation balances of purchases and fulfilment contracted in EURO and USD.

•  The Group closed the first half of the year with an after tax consolidated profit of 40 mHUF, to which Infinity a.s. contributed the most. 

   

Márk Lazarovits, the CEO of the company commented:

“I am proud to report that our first quarter earnings significantly exceeded the corresponding period of last year, despite adverse impacts of the environment of the economic crisis. The sales increasing by more than 50% and doubled contribution levels contributed predominantly to this result.

 We carried on the implementation of our major projects; we have already supplied and installed the significant part of the network infrastructure of the new office building of the Hungarian Television. We have successful delivered the entire active and passive network infrastructure for the newest data center of Invitel Zrt., which is one of the biggest capital investments of Invitel for the year 2009. As of January 1, we took over operation of the entire IT system of the Budapest Public Transport company BKV Zrt., and we feel that the client is satisfied with our service. Our subsidiary in the Czech Republic significantly contributed to the favorable performance of the Group in the first quarter of the year as well.

 Despite the crisis, we continue to expect good results for the rest of the year based on the increased contribution generation capability of our company. Our goal is to maintain the 6-8% operating profit margin through the whole year while increasing further our revenues.”

The Flash Report can be downloaded from Investor Relations' Flash Reports folder on Synergon's site.

Synergon Information Systems Plc.