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Hungary's TVK reports leap in second-quarter profit, modest increase in sales

8:04 AM MDT | August 13, 2013 | Michael Ravenscroft

Petrochemical producer TVK (Tiszaújváros, Hungary) says Ebitda in second-quarter 2013 more than doubled, to 7.21 billion forints ($33.2 million), from Ft2.75 billion a year ago. Ebitda also rose sequentially in second-quarter 2013 from Ft5.76 billion in the first quarter of this year, a rise of 25%. Operating profit in second-quarter 2013 was Ft3.86 billion compared with a loss of Ft711 million in the year-ago period. Net sales rose in the second quarter of this year to Ft98.8 billion compared with Ft96.0 billion, or a 3% rise year-on-year. ...

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