17 December 1998: Polish glassmaker Irena SA expects to make a Zl 2.8 million net loss in 1998, against an earlier forecast of a Zl 3.9 million profit, the firm said in a statement recently.
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17 December 1998: Polish glassmaker Irena SA expects to make a Zl 2.8 million net loss in 1998, against an earlier forecast of a Zl 3.9 million profit, the firm said in a statement recently. This is the second time Irena has lowered its net view this year, previously slashing it from Zl 9.9 million in July. It blamed a strong zloty, the collapse of the Japanese glass market, the need to conduct repairs and corrections of the assessed value of its financial assets. Irena said it expected to make a pre-tax loss of Zl 2.5 million on sales of 79 million, against its earlier forecast of Zl 5.5 million pre-tax profit on Zl 87 million in sales.