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LR Crystal improves profit in eight months

Slovakian glass producer LR Crystal reported a gross profit of Kcs 48.7 million during the first eight months of 2000, compared with a loss of Kcs 1.7 million during the same period of the previous ye…

Slovakian glass producer LR Crystal reported a gross profit of Kcs 48.7 million during the first eight months of 2000, compared with a loss of Kcs 1.7 million during the same period of the previous year. Total revenues increased 14% year on year to Kcs 789.4 million. Costs amounted to Kcs 735.7 million, up 7.5% year on year. Distribution firm Rona Trading is the majority owner of LR Crystal controlling 90.91% of the company. LR Crystal“s exports equalled Kcs 976.3 million and a better portion was destined for Germany. The rest went to the United Kingdom and Canada. The company“s capital investments amounted to Kcs 64 million during the monitored period. They went into reconstruction of the production facility, modernization of the melting aggregate and computer equipment. LR Crystal plans to end the year with a net profit of Kcs 23 million. Rona Trading“s profit is estimated at Kcs 96 million. LR Crystal ended 1999 with a profit of Kcs 24.6 million compared with Kcs 805,000 it reported in 1998. Its output exceeded Kcs 998 million, which is an increase of Kcs 91 million from 1998. Sales were at Kcs 901.5 million, up Kcs 94 million year on year. Total assets were Kcs 1.236 billion. LR Crystal produces and processes glass, machines for glass production, and wooden and cardboard packaging. It also is licensed to gauge glasses for restaurants. The glassmaker in Lednicke Rovne was established in 1892 and it transformed into a joint-stock company in 1992.

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