Almost 3/4 of construction companies expect increased revenues
Around 74% of Hungarian construction companies expect their net turnover to increase this year, according to a survey by the trade association ÉVOSZ, according to a report by the state-owned MTI newswire.
About 15% predict a drop in income and 11% predict stagnation, said ÉVOSZ.
About a quarter of companies expect higher profits this year, while 48% see no improvement. Most businesses in the capital expect their profits to drop.
EVOSZ President Lászlo Koji explained that Budapest companies have more high-value, longer-term contracts of the type that do not allow modifications due to higher prices for building materials.
He said contractors did not expect the prices of building materials to increase further this year and that they herald a price correction for critical materials, such as lumber, insulation and cables. electric.
The association surveyed 400 businesses, large and small, across the country.
The survey showed that timber prices rose 160% in the first half of the year, although the increase was more modest of 86% in the capital alone. The price of insulation has increased by 45% and that of electric cables by 35%.
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