According to finance director Imants Saulitis, Latvian firm Valmieras Stikla Skiedra (Valmiera Fibreglass) earned profits totalling 49,000 lats for the first ten months of 2000.
The company“s ten-m…
According to finance director Imants Saulitis, Latvian firm Valmieras Stikla Skiedra (Valmiera Fibreglass) earned profits totalling 49,000 lats for the first ten months of 2000. The company“s ten-month net turnover amounted to 12 million lats, slightly more than in the same period in 1999, when net turnover was 11.97 million lats. Saulitis said that fluctuations in the euro and lat exchange rates caused October losses of 38,000 lats. Full-year profits at Valmiera in 1999 were 536,000 lats on a net turnover of 13.3 million lats. The company hopes to generate 13.8 million lats in gross turnover for 2000 but forecasts near zero profits after payment of all taxes.