Poltar-based glassware producer Slovglass a.s. earned a net profit of SKK 39.143 million in the first quarter of 2002, which is an 83.79% year-on-year increase. Operating profit represented SKK 47.3 m…
Poltar-based glassware producer Slovglass a.s. earned a net profit of SKK 39.143 million in the first quarter of 2002, which is an 83.79% year-on-year increase. Operating profit represented SKK 47.3 million. Revenues grew by 34.5% year-on-year to SKK 305.606 million, economics director Irena Spodniakova said. Sales increased 43% compared with the same period of last year. The company reported a 42% increase in exports y/y, making up almost 91% of total sales. Slovglass“s main markets are the US, Great Britain, Italy, Norway and Spain. As of 31 March the company registered 1,753 employees, a figure which is up by almost 15% from a year ago. The average wage increased by SKK 931 to SKK 11,415. This year the company plans to invest SKK 53.3 million. “The investment plan for the current year is associated mainly with the expansion of lead crystal stemware production,” added Ms. Spodniakova. They also plan to invest in new machines and a new set of molds for SKK 16 million to expand machine-made lead crystal production. This year these investments will be covered from the company“s own resources. Slovglass further plans to invest in production ecology, i.e. the reduction of waste materials and their recycling. Slovglass, a.s., Poltar is the second largest Slovak producer and exporter of utility glassware. The company was privatized in 1994, Slovglass has three production plants In the Zlatno plant, hand-made soda-potash glass is manufactured; the Katarinska Huta plant specializes in manufacturing soda-potash machine-made glassware. The Poltar plant specializes in lead crystal glassware.