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Ajka Kristaly Uvegipari: record-high profit in 1998

11 March 1999: Hungarian crystal maker, Ajka Kristaly Uvegipari (AKU) Kft, which belongs to the retail group Fotex (91% ownership), closed 1998 with a record-high HFt 375 million pre-tax profit.
The…

11 March 1999: Hungarian crystal maker, Ajka Kristaly Uvegipari (AKU) Kft, which belongs to the retail group Fotex (91% ownership), closed 1998 with a record-high HFt 375 million pre-tax profit. The turnover of the company increased by 20% to HFt 3.7 billion last year, according to the company“s preliminary figures. The crystal maker exported 90% of its products, mainly to the United States, Ireland, Britain, Japan, Italy and France. Zoltan Katzer, managing director, said the firm“s revenues are projected to reach HFt 4.2 billion this year, of which export sales will account for HFt 3.7 billion. The company calculates with a HFt 400 million profit in 1999, for which it has to boost capacity further and improve the quality and efficiency. This year, the owners are to invest HFt 240 million in production, and are also expected to raise the share capital of the company. The company is a major player on the Hungarian market. Lead-crystal accounts for 60% of their products, of which 70% is what is known as colour coated crystal. The range of colour coated products will be extended this year to include silver coated crystal, using the silver waste generated in film development at Fotex shops.

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