BorsodChem H1 net income down 21pc on drop in financial profit.

(From Hungarian News Agency (MTI))

Budapest, August 10, 2005 (MTI-ECONEWS) - Hungarian chemicals company BorsodChem had net income of HUF 8.38bn (EUR 36.2m) in January-June 2005, down 21.3pc from the same period a year earlier because of a sharp drop in financial profits, according to the company's preliminary IFRS consolidated report published on Wednesday. Financial profitscame to HUF 459m during the period, down from HUF 4.36bn, reflecting mostly unrealised exchange rate gains, a year earlier.

BorsodChem's operating profit, however, rose a sharp 38.7pc to HUF 9.39bn in the first half of 2005 from a year earlier.

In Q2 alone, consolidated net …