Valmieras Stikla Skiedra sets profit target for 2009

Latvian fiberglass producer Valmieras Stikla Skiedra is targeting sales of LVL 40.3 million in 2009 and profit of LVL 147,000 (EUR 209,200), which would be three times lower than in 2008, the company`…

Latvian fiberglass producer Valmieras Stikla Skiedra is targeting sales of LVL 40.3 million in 2009 and profit of LVL 147,000 (EUR 209,200), which would be three times lower than in 2008, the company“s statement to the Riga stock exchange shows. The company said it has prepared a development plan for 2008-10. For 2008, Valmieras posted LVL 37.813 million unaudited net sales, up 1.6% year-on-year, while the company“s profit grew 8.3 times to LVL 535,300. The company is quoted on the NASDAQ OMX Riga stock exchange second list.