Italian CALP (Cristalleria Artistica La Piana) ended 1995 with small increases in consolidated turnover and profits. The former rose 7.4% to L 157 billion, 60% of which was realised on the foreign mar…
Italian CALP (Cristalleria Artistica La Piana) ended 1995 with small increases in consolidated turnover and profits. The former rose 7.4% to L 157 billion, 60% of which was realised on the foreign markets. Domestic sales grew by 16% and exports by a modest 1.6%. Exports to the Netherlands fell 46.7%, to Japan rose 48%, to the Middle East 49%, to Oceania 47%, to central-north America 50% and to the NAFTA trade area 11%. The gross operating margin remained practically stable at L 46.6 billion. An 11% increase in amortisations to L 14 billion meant that the operating result fell to L 31.3 billion from L 33 billion previously. However, pre-tax profits rose 5% to L 35.5 billion thanks to extraordinary income of L 3.4 billion (L 544 million in 1994). Net profits rose 6.7% to L 17.4 billion. At lead company level, turnover rose 8% to L 154 billion and the operating result fell 6.5% to L 34.6 billion. Net profits reached L 16.8 billion, up 7%. The board is set to propose an unchanged L 320 dividend per share giving a total payment of L 8.9 billion.