Profits Fall At Belgian Glassmaker

Glaverbel has reported a 19% fall in net profits for the first half of this year. The company has blamed a historic low in glass prices for the poor performance, although prices were starting to recover by the end of the first half. Operating profits for the group fell by about a third, to BFr1bn. The effect of this fall on the net results was, in part, moderated by a drop in interest rates.