Valmieras SS Fiberglass sales exceed 2003 target

Latvian Valmieras Stiklu Skiedra (VSS) fiberglass plant has reported a 11% rise in sales for 2003 reaching LVL 20.19 million (EUR 29.7 million), up 11.4% year-on-year.
The company reported to the Rig…

Latvian Valmieras Stiklu Skiedra (VSS) fiberglass plant has reported a 11% rise in sales for 2003 reaching LVL 20.19 million (EUR 29.7 million), up 11.4% year-on-year. The company reported to the Riga Stock Exchange that the gross turnover of sales last year was 3.6% over the annual target. The company had previously announced that the annual result would be above target with profits expected to be around LVL 1.1 million, or 11% higher than planned. Net turnover should reach LVL 20.2 million, 4.4% higher than the target. In 2002 the fiberglass plant achieved a turnover of LVL 17.99 million with profits of LVL 0.841 million. The largest shareholders in Valmieras SS include Germany“s Glasseiden GmbH Oschatz and P-D-P-Fiberglas Consulting, as well as Vitrulan Textilglas GmbH. The company stocks are listed on the second list of the Riga Stock Exchange.