Companies / Hungary
Richter To Cut Investment In Hungary As Q1 Profit Declines
May 2007 | Company News AlertGedeon Richter, the Hungarian pharmaceutical manufacturer, reported its Q1 2007 profit fell by 48.8% compared to the same period last year. Unfavourable changes in the domestic environment and a strong HUF exchange rate against the US$ resulted the company's sales in HUF falling below the previous year's figure for the first time ever. Richter is now forced to cut costs through freezing investment and capping workforce in Hungary. BMI thinks that the company's revenues in 2007 might slightly decline but a cautiously optimistic forecast expects recovery in
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