Exports Drive 1st-Qtr Sales At Human

Human of Hungary reported gross profits of 206 million forint ($1.1million), a rise of 3%, in the first quarter of 1997. Turnover was just over 4 billion forint, up 19.8%. The company said that exports were 602 million forint in the quarter, more than doubling from the 1996 first-quarter level, reports MTI Econews. Human noted that its receivables have increased steadily to 2.64 billion forint as a result hospitals delaying payment.

The firm's subsidiary Humantrade made net sales of 2.9 billion forint, an increase of 543 million forint on the same period last year. Its product revenues derived from other companies were 1.8 billion forint, rising 32%. Its operating profits declined from 204 million forint to 173 million forint.