Irena posts net loss for 2001

Polish listed glassworks Irena SA posted a net loss of PLN 3.2 million (EUR 878,000) for the full financial year 2001, against a net profit of PLN 5.5 million generated in 2000.
The company“s sales …

Polish listed glassworks Irena SA posted a net loss of PLN 3.2 million (EUR 878,000) for the full financial year 2001, against a net profit of PLN 5.5 million generated in 2000. The company“s sales revenue dropped to PLN 78.7 million in 2001 from PLN 89.5 million reported in 2000. The worsened results of Irena in 2001, which sells a large part of its output abroad, are mainly due to the world economy slowdown (especially in the US and Japan) and the strong national currency, the company spokesman said.