German window and door maker Weru AG brought its pre-tax loss down to EUR 1.6 million (USD 2.0 million) for the 1H 2004 from EUR 3.4 million (USD 4.2 million) for the year-ago period, the company said…
German window and door maker Weru AG brought its pre-tax loss down to EUR 1.6 million (USD 2.0 million) for the 1H 2004 from EUR 3.4 million (USD 4.2 million) for the year-ago period, the company said on 10 September 2004. Weru posted a loss of EUR 2.3 million (USD 2.8 million) before interest, tax and amortisation (EBITA), down from EUR 3.8 million (USD 4.7 million) EBITA loss. The company attributed the improvement to cost-cutting and profitability enhancement measures. Weru“s consolidated sales fell by 8% to EUR 58.1 million (USD 71.2 million). Considering the unfavourable market conditions, Weru forecast a slight fall in sales for 2004, compared to a year earlier. Weru currently employs 1,036, down from 1,137. The company announced on 13 July 2004 that it planned to cut 150 of its 1,050 jobs and to introduce a 40-hour week without pay compensation in a move to cut costs by EUR 13 million (USD 15.7 million). Weru, which has a 9.8% share of the German market, cut 180 jobs in 2003. The company has 1,040 sales representatives in Germany, Austria, Switzerland, France and the Netherlands. It operates plants in Germany, Hungary and Poland. Unless otherwise stated, all figures are for the 1H 2004, compared to the 1H 2003.