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Moser cuts 2009 loss

Czech glassmaker Moser reported that it closed 2009 with a loss of CZK 8.38 million, compared to a loss of CZK 51.17 million in the same period the previous year.
Sales of the firm“s own products an…

Czech glassmaker Moser reported that it closed 2009 with a loss of CZK 8.38 million, compared to a loss of CZK 51.17 million in the same period the previous year. Sales of the firm“s own products and services dropped CZK 4 million compared to CZK 187.4 million. The company has been negatively affected by swings in the Czech crown“s exchange rate, rising energy prices, the global economic crisis and falling orders over the past two years. Moser, which employs about 300 people, put a series of cost-cutting measures into practice in 2009 to cut loss from 2008, when it invested a large sum of money for the modernization of its plant. Sale of products and services on international markets were about CZK 111.7 million in 2009, a decrease of approximately CZK 19.3 million. According to company CEO and Chairman Antonin Vlk, Moser did not lose any significant clients last year, despite the crisis and lower trading volumes. Vlk added that he expects sales on the domestic market to increase and intends to invest CZK 14 million for the modernization of machinery and repairs.

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