Hungarian online book company Bookline.hu sustained after-tax losses of HUF 178m (EUR 671,918) in the first three quarters of 2009, compared to after-tax losses of HUF 134m in Q1-Q3 of 2008 as expenses related to financial transactions more than tripled to HUF 24m during the period, the company revealed in its Q1-Q3 unaudited report compiled according to Hungarian Accounting Standards.
The report was published on the website of the Budapest Stock Exchange on Wednesday evening.
Bookline.hu noted that around 60pc of the company’s Q1-Q3 expenses related to financial transactions stemmed from payment of interest on bank loans and leasing contracts.
The company generated net sales revenue of HUF 2.43bn in the first three quarters of 2009, up 12.6pc from Q1-Q3 of 2008. 89pc of the company’s revenue stemmed from book sales.
Bookline.hu noted that sales revenue was lower than expected due to unfavorable economic circumstances.
Operating losses were HUF 172m in first three quarters of 2009, slightly up from operating losses of HUF 164m in Q1-Q3 of 2008.
The company had total assets of HUF 1.933bn at the end of the third quarter of the year, down 0.8pc from a year earlier. Net assets fell 19.9pc in twelve months to HUF 1.096bn.
Of course, this report is of no interest for inflamed patriots scattered all over this site… It is about books, and they offer to each other arguments taken from wikipedia, from ‘unauthorised biographies’… Books… Come on, books are useless! We, real patriots, have to be active, we have to be militant for our people’s sake! We have been annointed with pure patriotic knowledge, so books are even dangerous! Oh, I am proud of you, real e-patriots, and people who spread your daily patriotic e-prayers here, on this site, have to be proud of you and of themselves. Let the books disappear, they could even be poisonous in the brilliant future awaiting this country!!!
An interesting rant petofi even if the only relevance to the referenced article is the word “book”.
With the chances of receiving anything through the post here less than 50:50 (unless you pay for a courier), I’m surprised there is a single on-line ordering company that manages to make a profit. Add in the fact that most Hungarians don’t have access to credit cards to make on-line ordering simple, I’m not too surprised internet based shops in Hungary struggle.