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Kyro: reduction in profits for first four months of 1998

2 July 1998: Finalnd“s Kyro group, which includes safety glass machinery producer Tamglass, posted profits before extraordinary items of FM 39 million in the first four months of this year, compared …

2 July 1998: Finalnd“s Kyro group, which includes safety glass machinery producer Tamglass, posted profits before extraordinary items of FM 39 million in the first four months of this year, compared with profits of FM 50 million in the same period last year. Recent press reports say that the company had been expected to post average profits of FM 26 million. Earnings per share fell to FM 0.56 from FM 1.09. Operating profits increased to FM 25 million from FM 10 million. Turnover increased to FM 322 million from FM 251 million. The group“s Tamglass division is expected to see turnover for the full year increase compared with last year. Kyro“s full-year operating profits are expected to be on a par with last year“s profits of FM 82 million, provided there is no deterioration in the global economy, said the reports.

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