German Glunz 2004 net profit euro 3.3 million
Apr 21, 2005. German wood processor Glunz AG swung to a 3.3 million euro ($4.3 million) net profit for 2004 from a 44 million euro ($57.3 million) net loss for 2003, the company said. Consolidated net profit of the Glunz group jumped to 6.4 million euro ($8.3 million) from a 44.6 million euro ($58.1 million) loss and combined turnover totalled 407.5 million euro ($530.8 million), up 22.5%. Sales came in at 386.3 million euro ($503.2 million), up 26.1%.
Apr 21, 2005. /Lesprom Network/. German wood processor Glunz AG swung to a 3.3 million euro ($4.3 million) net profit for 2004 from a 44 million euro ($57.3 million) net loss for 2003, the company said.
Consolidated net profit of the Glunz group jumped to 6.4 million euro ($8.3 million) from a 44.6 million euro ($58.1 million) loss and combined turnover totalled 407.5 million euro ($530.8 million), up 22.5%. Sales came in at 386.3 million euro ($503.2 million), up 26.1%.
The buoyant results were fuelled by improved capacity utilisation and sales and production optimisation.
Glunz is a unit of Portuguese sector group Sonae Industria via its Spanish sector company Tableros de Fibras.
Glunz posted a 5.6 million euro ($7.3 million) operating profit for the first half of 2004. Pre-tax profit stood at 7.6 million euro ($9.9 million), down from 14.2 million euro ($18.5 million). Sales grew 33% to 208 million euro ($270.9 million).