20 May 1999: Latvian Valmiera Glass Fibre said its profits for the four-month period ended 30 April came to 190,800 lats, while net turnover was 4.249 million lats.
A company official said no compara…
20 May 1999: Latvian Valmiera Glass Fibre said its profits for the four-month period ended 30 April came to 190,800 lats, while net turnover was 4.249 million lats. A company official said no comparative figures for January-April 1997 profits were available. Its turnover in the first four months of last year was 3.70 million lats. Its first quarter 1998, net profit came to 262,100 lats. The plant, with 70% of sales in German marks, said it had lost 106,000 lats since January, due to DM/lat exchange rate changes. Valmiera targets full-year 1999 net profit of 0.75 million lats (US$ 1.3 million) – up from 0.643 million lats in 1998 – on turnover of 12.7 million lats versus 12.2 million lats.