Hungarian axle maker Raba has posted its third consecutive net loss as third quarter sales fell by an annual 42.3% to 7.11 billion forints (US$40m).
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Turnover in the first nine months was down 43.9 percent to 25.4 billion forints, dragging the company into a net loss of 4 billion forints in the first three quarters.
“The increased business activity in the industry signals that the trough in the cycle is already behind us, but all told, uncertainty is still above average,” said Chairman and Chief Executive Istvan Pinter.
The company made a net financial loss of 878.9 million forints in the third quarter after a net gain of 786.8 million a year earlier.
