Connect with us

Hi, what are you looking for?

Economy

Last year, Lőrinc Mészáros received a net profit of 50 billion Hungarian forints from the largest railway construction company he owned.

Last year, Lőrinc Mészáros received a net profit of 50 billion Hungarian forints from the largest railway construction company he owned.

June 1, 2024 – 11:47 am

In one year, Lőrinc Mészáros' railway construction company, V-Híd, increased its turnover by one and a half times and doubled its profits. Among other things, the company is working on state projects such as the construction of the Budapest-Belgrade railway or the Szeged-Zabadka line.

Last year, V-Híd generated pre-tax profits of HUF 56.7 billion out of HUF 168 billion in sales. If we subtract the tax liability, the result is that Mészáros still has a profit of HUF 50.9 billion. The company's results over the past six years are presented here:

By the way, the company's operating profit was 44 billion Hungarian forints, so if we take the financial operations out of the picture and just deal with the business of the company, that's how much more it made in one year. This means that the company operates at a profit rate of more than 25 percent – usually based on government orders.

Lőrinc Mészáros's other railway builder, R-Kord, made taxable profits of HUF 8.5 billion with sales of HUF 43 billion last year. Regarding one of the R-Kord committees, the BRFK is investigating a case of embezzlement, where it was found that the state seized half-finished work from them in 2021 and paid them for it.

From our partners

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Top News

In a harrowing incident that has shaken the community of Lewiston, Maine, a series of shootings on Wednesday evening resulted in a tragic loss...

Top News

President Joe Biden’s abrupt departure from a speech on the U.S. economy at the White House on Monday sent a ripple of speculation and...

World

Chinese scientists have discovered a little-known type of ore containing a rare earth metal highly sought after for its superconducting properties. The ore, called...

Tech

A dangerous application appeared in the Apple App Store disguised as a known program. 24.hu reported the Based on TechCrunch article. Dangerous app in...

Copyright © 2024 Campus Lately.