Business is booming for Orbán’s family company

May 31, 2017

Prime Minister Viktor Orbán’s family business will pay HUF 730 million in dividends to family members, reports

The 2016 financial year was rather successful for Gánt Kő és Tőzeg Kft., owned by Orbán’s family. The company increased its turnover by 40 percent – HUF 464.7 million – managing to quadruple its profits compared to 2015, to HUF 255 million after taxes.

In contrast with previous years’ practice, the owners will disburse the profit of last year and the years before that as a dividend this year, totaling HUF 730 million. As a first installment, the company will pay HUF 233 million to the family members on Wednesday, Orbán’s birthday.

Companies owned by his relatives have experienced a spectacular profit boom in recent years. The companies whose activities include mining, concrete manufacturing and transportation managed to win several state contracts through indirect channels.