Annual General Meeting of Hungarian Textile Company Pannon-Flax Rt's held on Tuesday accepted plans to counter declining revenues this year.
The AGM approved the HUF 156.6 million after-tax profits generated in 2005 but disapproved payment of dividend from this sum.
Management's 2006 annual arrangements aiming at revenues worth HUF 3.5 billion and pre-tax profit at HUF 150 million that were also approved in the AGM.
Pannon-Flax LTD has consolidated net revenues in 2005 totaling HUF 3.76 billion and its pre-tax profit nears HFU 26 million.
Fabric producing company The Pannon-Flax Gyor Linen Weaving PLC production line ranges from a spinning mill through pre-weaving, weaving, dyeing and finishing works to a selection of in-house designs.
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