Oberland Glas AG, the German glass manufacturing subsidiary of the French group Saint-Gobain, has reported a 19% increase in its net profit to DM 17.0 million for the first six months of 1996 (up from…
Oberland Glas AG, the German glass manufacturing subsidiary of the French group Saint-Gobain, has reported a 19% increase in its net profit to DM 17.0 million for the first six months of 1996 (up from the 1995 first half figure of DM 14.3 million). This follows a sharp rise in the 1995 annual surplus to DM 33 million (DM 12 million). Turnover in the first half of this year declined however to DM 408.4 million (DM 415.4 million). This decline was attributable to a fall in demand for industrial glass resulting from lower private consumption and reduced sales to the catering and drinks industries. By contrast, demand for glass packaging has marginally improved. In the 1995 full year, turnover slipped to DM 817 million (DM 826 million). Oberland Glas is planning investments of DM 84.0 million in 1996 (DM 84.3 million). Of this figure, DM 62.8 million (DM 30.1 million) had already been effected in the first half. Full-year profits are expected to be in line with those of 1995.