Pick Szeged Zrt. increased its profit in the first six and a half years even in an unfavorable economic environment

By: Trademagazin Date: 2023. 09. 29. 12:31

Pick Szeged Zrt. closed the first six months of 2023 with a pre-tax profit of HUF 4.932 billion, after HUF 4.846 billion in the same period of the previous year, the company announced on Friday in its semi-annual report published on the website of the Budapest Stock Exchange (BÉT).

Pick-Szeged’s net sales in the first half of the year increased to HUF 38.837 billion from HUF 35.930 billion in the base period.
Within this, export sales increased from HUF 9.174 billion to HUF 10.423 billion, and domestic sales rose by HUF 1.7 billion to HUF 28.414 billion.

The report highlighted: they managed to ensure effective operation despite the noticeable drop in demand on the food market and rising costs, raw material and processing costs. In the first six months, the purchase price of raw meat raw materials continued to increase, rising to a record level of 2.5 euros per kilogram in June. The sales revenue was also increased by the price corrections implemented due to the rising raw material and processing costs, they wrote.

Referring to KSH data, it was noted that the production volume of the meat product manufacturing sector in Hungary decreased by 15 percent in the first half of the year.