Muszertechnika Rt, the Hungarian reseller and IBM business partner, has reported revenues of $43m for 1993 and registered a net profit of $500,000. While 1993 turnover was up 20% on the previous year, the percentage of the company’s revenues accounted for by computer sales fell to 35% last year from 50% in 1992. Telecommunications sales contributed 15%, other electronic equipment 30%, and financial services 20%. Muszertechnika’s profit was up on 1992, when the firm only just broke even, and was achieved in spite of the company repaying most of its $4m debt, officials said. The results would seem to be a smidgen of good news for Mirror Group pensioners; Maxwell East European Partners holds 14% of the firm. Private investors, including Videoton boss and millionaire Gabor Szeles, together own 64%. The banks have another 20% and other Hungarian companies own the remaining 2%.
