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Article: Paper mill Krkonoske papirny to use last year's CZK 90 mln profit to cover previous losses.
- Article from:
- Czech Business News
- Article date:
- June 19, 2003
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Paper mill Krkonoske papirny to use last year's CZK 90 mln profit to cover previous losses
Prague. June 19. INTERFAX EUROPE - Shareholders of Krkonosske papirny Hostinne (KPH), one of the largest Czech paper producers, decided on Wednesday to use last year's CZK 90 mln profit to cover losses from past years.
The company's uncovered losses are worth CZK 166 mln. Last year's profit was up CZK 70 mln from the year before.
KPH's sales grew 4 % to CZK 2.14 bn in 2002, thanks to its merger with its parent company KRPA, a producer of asphalt strips. Sales were also affected by the strong crown, which pushed exports down 12 % to CZK 817 mln (37 % of ...