In the 12 months ended December 31, Budapest, Hungary-based Synergon turned in a net profit of HUF 33.8m ($147,966) compared to a net loss of HUF 504.2m ($2.21m) in 2001, on revenue in constant currency that declined 9% to HUF 19.5bn ($85.4m). IT services grew to account for 31% of the company’s revenue in 2002, compared to 27% in 2001, and reselling hardware and software licenses fell to account for 69% of revenue compared to 73% in 2001.
Synergon is strong in the telecommunications sector, but experienced a spectacular decline in demand here during 2002, and at the end of the year, telecoms accounted for 17% of revenue, financial services 10%, and utilities 20%. Communications systems, which was formerly the largest operation providing design and installation of networks, saw revenue decline 27% to HUF 4.32bn ($18.9m) during 2002. Hardware and software integration increased 32% to HUF 4.86bn ($21.3m), services increased 2% to HUF 1.39bn ($6.09m), and IT consulting increased 10% to HUF 1.03bn ($4.51m).
However, Synergon’s subsidiary cable reseller Fibex experienced a 6% decline in revenue to HUF 877.9m ($3.84m), Czech Microsoft and Cisco integrator Infinity declined 19% to HUF 5.86m ($25,653), although its Croatian networking firm Span increased revenue 39% to HUF 1.74bn ($7.62m).
Source: Computerwire
