August 13th, 2009

Losses mount at online bookseller Bookline.hu

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Hungarian online bookseller Bookline.hu racked up a first-half loss of HUF 116m, more than double losses in the same period a year earlier, as rising costs outpaced higher revenue, the company’s Hungarian Accounting Standards report for the period, published late Wednesday, shows.

Revenue rose 11.7pc to HUF 1.62bn, but the cost of goods sold climbed 16.9pc to HUF 1.16bn.

Bookline.hu’s operating loss grew to HUF 117m from HUF 73m.

Bookline.hu had total assets of HUF 1.92bn on June 30, 2009, 3.2pc more than twelve months earlier. Net assets rose 20.1pc to HUF 1.16bn.

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