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Baccarat posts USD 1 million net profit for 2002

French crystal maker Baccarat, part of French luxury goods and hotels company Societe du Louvre, posted a consolidated net profit of EUR 947,000 (USD 1.02 million) for 2002, compared to EUR 2.5 millio…

French crystal maker Baccarat, part of French luxury goods and hotels company Societe du Louvre, posted a consolidated net profit of EUR 947,000 (USD 1.02 million) for 2002, compared to EUR 2.5 million (USD 2.7 million) for 2001, the company said on 27 February 2003. A reduction in production capacity at the company lead to the fall in profit. Baccarat“s consolidated turnover decreased by 1.5 % year-on-year to EUR 126.8 million (USD 136.2 million) in 2002. The company obtains some 80% of its turnover abroad. The company aims to increase its sales in 2003. Baccarat employees held a protest meeting in Paris on 26 February 2003 against a [Editor“s note: The employees of Baccarat would stage a protest meeting on February 26 possible corporate restructuring plan.

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