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Glaverbel Czech: increased net profit in 1998

18 March 1999: The biggest Czech producer of flat and structural glass, Glaverbel Czech, posted in 1998 a pre-tax bottom line of Kcs 190.2 million, the CEO“s secretary Alena Janotova was reported as …

18 March 1999: The biggest Czech producer of flat and structural glass, Glaverbel Czech, posted in 1998 a pre-tax bottom line of Kcs 190.2 million, the CEO“s secretary Alena Janotova was reported as saying. According to the preliminary results of the firm“s performance, this was 56.5% higher than the year before. The Glaverbel Czech“s 1998 receipts increased by 5.2% to Kcs 5.298 billion. The net profit of nearly Kcs 155 million in 1998 was 27.5% higher year-on-year. Glaverbel Czech, operating until the end of 1998 under the name of Glavunion, increased its 1998 sales mainly thanks to a growth of its exports, despite the fact that its deliveries abroad were negatively influenced for most part of the year by a strong exchange rate of the crown. Glaverbel Czech“s deliveries rose 8.6% and the share of exports in receipts thus increased to 67%. Value added was 16.3% higher than in 1997, and there was a continuing growth of labour productivity, which was 381% higher than in 1991. While 24.88 hours of paid time were necessary in 1991 per ton of sold production, last year it was only 6.53 hours. The entire Glaverbel group which, apart from its parent company in Teplice, comprises thirteen firms in Bohemia and Slovakia, increased its receipts in 1998 by 9.3% to Kcs 8.275 billion. At the same time, the exports of this consolidation entity grew by over 10% to Kcs 5.631 billion. A major development was reached mainly by the Splintex Czech joint-stock company producing safety automobile glass which is entirely owned by Glaverbel Czech. Its 1998 sales increased by Kcs 342 million compared to the previous year. Among other members of the group are the producer of structural glass Glaverbel Chodoglav, the producer of glass blocks Vitrablok and glass distributing firms.

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