21 May 1998: Recent reports show that Latvia“s Valmiera Fiberglass earned a net profit of 182,040 lats on a turnover of 2,683,148 lats in the first quarter of this year.
The production costs of the …
21 May 1998: Recent reports show that Latvia“s Valmiera Fiberglass earned a net profit of 182,040 lats on a turnover of 2,683,148 lats in the first quarter of this year. The production costs of the enterprise were reported at 1,920,075 lats in the first three months of this year. As of 31 March, Valmiera Fiberglass had a share capital of 12,627,238 lats, fixed assets of 3,301,556 lats and provisions of 7,152,501 lats. Claims on debtors made up 4,450,895 lats. Long-term debts to creditors were 1,316,638 lats, while short-term debts made up 975,971 lats. The net profit of the company in the first quarter of last year was 262,141 lats. In 1997, Valmiera Fiberglass netted 740,661 lats on a turnover of 10,344,497 lats. Valmiera Fiberglass“ shares are quoted on the second list of the Riga Stock Exchange. The Latvian Central Depository has registered 11,494,250 shares in the company. Shareholders of the Valmiera Fiberglass factory will receive 1.3 santims per share in dividends for 1997 or a total of 150,000 lats. The decision was made by a general meeting of shareholders at the end of last week.