2003.02.17, Valmieras stikla šķiedra, RIG

JSC  "Valmieras stikla šķiedra" gross sales in January of 2003 amounted

to  LVL  1.4905  million,  which exceeds the 2002 January figure by LVL

240.6  thousand,  and is 7.7% of the 2003 target (LVL 19.3412 million).

Net  profit  made in January was LVL 101.3 thousand, which is less than

in  January of 2002 (LVL 149.2 thousand). Net profit target for 2003 is

LVL 993.6 thousand, provided that the exchange rate will remain 0.6 EUR

per 1 LVL.

The  company  is  planning  to  invest  LVL  1.18  million over 2003 in

modernisation and quality improvement.

In  January of 2003 70.6% of the sales were done in Western Europe, and

17.3%  in the USA. The sales in 2003 continue to be successful owing to

the  quality  of  the  produce,  good  service and the export-promoting

exchange rate.