Moser sees gross profit fall

Czech glassmaker Moser posted a preliminary gross profit of CZK 8 million for 2001, down from CZK 18 million the previous year, according to figures released by the firm. Moser“s revenues fell CZK 1 …

Czech glassmaker Moser posted a preliminary gross profit of CZK 8 million for 2001, down from CZK 18 million the previous year, according to figures released by the firm. Moser“s revenues fell CZK 1 million year-on-year to CZK 294 million. The firm blames the stagnant Czech market for its poorer results last year. Exports rose by 8.6 % year-on-year to CZK 115 million, accounting for 42% of the firm“s overall sales. The increase came despite the recession on world markets and the strengthening Czech currency. Some 44 % of exports went to European countries, 40% to the US and the remainder to Asia. Last year Moser opened stores in Athens, Shanghai and at Prague“s Ruzyne airport. The company“s biggest orders in 2001 were for the US department store chain Neiman Marcus, the royal palace in Bahrain and foreign representative offices of the Czech Republic. Moser invested some CZK 2.5 million in new technologies in 2001 in order to increase capacity, improve glass quality and cut costs. Total investment amounted to CZK 10 million in 2001. Moser has share capital of CZK 70.4 million and employs 380 people. The firm was founded in 1857.