Baccarat sees drop in 2001 profit

The 2001 results from French crystalware group Baccarat will largely depend on the level of business in the fourth quarter, when it realises the bulk of its sales.
Anne-Claire Taittinger, Baccarat“s…

The 2001 results from French crystalware group Baccarat will largely depend on the level of business in the fourth quarter, when it realises the bulk of its sales. Anne-Claire Taittinger, Baccarat“s CEO, warns that great uncertainty over the economic and political situation means the group should be cautious. She expects a marked drop in the 2001 results and has announced measures to adapt to the current situation. Temporary staff are being asked to take their holidays by the end of October and HR director Bernard Hugues does not rule out the non-renewal of the contracts of the company“s 68 temporary employees. Consolidated turnover in the first half, excluding exchange rate changes, rose 2.1% to Euro 57.96 million. Baccarat recorded a first-half consolidated net loss of Euro 0.77 million. The US accounts for almost a third of turnover, according to Taittinger, adding that first-half sales in Europe and Japan were up.