Sales of Zeleznobrodske sklo (ZBS) glass jewellery producer in the first half of this year grew by almost 25% year-on-year to Kcs 265.736 million, up from Kcs 213.588 million sales in the first half o…
Sales of Zeleznobrodske sklo (ZBS) glass jewellery producer in the first half of this year grew by almost 25% year-on-year to Kcs 265.736 million, up from Kcs 213.588 million sales in the first half of 1999, according to general director Jaroslav Silhan. “This year we plan Kcs 417.8 million sales and the results of the first half show that the sales will probably be better than we expected,” Silhan noted. The significant growth in sales and profit is thanks to growing interest in fashionable costume jewellery, he added. Gross profit for the first half of this year stood at Kcs 74.611 million. “This is three quarters more than in the same period of last year. At that time we posted a Kcs 42.542 million profit,” Silhan added. Costume jewellery made of glass pearls accounts for 85% of ZBS“s production. Some 95% of the output goes abroad. The National Property Fund (FNM) controls 89.36% of the company, whose privatization came to a halt some years ago, which has had an adverse impact on ZBS“s long-term business plans. ZBS ended last year with Kcs 19.85 million profits on sales of Kc417.67m. The company is free of any long-term bank loans. Investments, in particular in modernization and new technology, which are financed from the company“s own sources and this year are to reach around Kcs 20 million. This February, the government decided to sell its majority share at ZBS and asked Finance Minister Pavel Mertlik to submit to the Cabinet results of the tender by 30 September. The criteria are the purchasing price, which may not be lower than Kcs 240 million, and the business plan. Share capital totals Kcs 236.434 million, and the company employs 1,183 workers.