Panevezio Stiklas Increased Turnover

In the first half of this year, Lithuanian glassmaker Panevezio Stiklas (Panevezys Glass) increased its turnover by 46.5%, reducing its losses 3.5 times. This year, the Panevezys-based glass company appears to be recovering, as in six months of the year it sold production worth 47.6m litas, incurring 1.48m litas losses. In the same period last year, the company sold production worth 32.5m litas and incurred 5.2m litas losses. Chief accountant Loreta Stankeviciene, told reporters that turnover of the company increased due to new customers in Russia. In 1997, some 30% of the factory's production was sold to the domestic market. Vodka bottles are the most profitable production, making up some 43% of total production. (whole item)