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HSG Irena: fall in 2004consolidated net profit

The consolidated net profit of Polish glassworks HSG Irena SA went down to PLN 1.7 million Polish (USD 577,000/EUR 436,000) for 2004, from PLN 4.1 million (USD 1.4 million/EUR 1.1 million) for 2003, t…

The consolidated net profit of Polish glassworks HSG Irena SA went down to PLN 1.7 million Polish (USD 577,000/EUR 436,000) for 2004, from PLN 4.1 million (USD 1.4 million/EUR 1.1 million) for 2003, the company said. The company“s pre-tax profit fell to PLN 1.1 million (USD 374,000/EUR 282,000) from PLN 3.3 million (USD 1.1 million/EUR 847,000). HSG Irena boosted its sales revenue to PLN 96.5 million (USD 32.8 million/EUR 24.8 million), from PLN 83.7 million (USD 28.4 million/EUR 21.5 million). The company“s operating profit dropped to PLN 2.7 million (USD 917,000/EUR 693,000) from PLN 4.3 million (USD 1.5 million/EUR 1.1 million). HSG Irena, set up in 1924, made its debut on the Warsaw Stock Exchange (WSE) in 1992. The company, headquartered in Inowroclaw, northern Poland, specialises in manufacturing cut-glass and lead crystal and soda glass products. The company exports to the United States, the UK, Spain, France, Ireland and Japan. (Note: Unless otherwise stated all figures are for 2004 compared to 2003)

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