JSC Valmieras stikla šķiedra                                                                May 6, 2008

JSC Valmieras stikla šķiedra, the only glass fibre production company in the Baltics, made a profit of LVL 440,000 (EUR 626,000) in the 1st quarter 2008.

Net turnover in the first three months 2008 amounts to 9.79 million lats (EUR 13.93 million); 9.30 million lats (EUR 13.23 million) were budgeted.

These results for the first quarter are satisfactory, taking into account the constantly increasing gas, electricity, and raw material prices. In order to lessen the negative external impact, JSC Valmieras stikla šķiedra is implementing a wide process rationalisation programme. The budget for 2008 foresaw no profit for the first quarter.

The first quarter 2007 brought the company LVL 770,000 (EUR 1,095,600) of profit, net turnover reached LVL 9.58 million lats (EUR 13.63 million).

JSC Valmieras stikla šķiedra
Controller
Lauma Tjuniņa
Phone   +371 64202222
Mobile +371 26441429
Fax      +371 64281216
lauma@vss.lv