Schott AG has posted a net profit of EUR 16M for fiscal 2003/4, ended 30 Sept/04, after a net loss of EUR 75M in 2002/3, according to the company's preliminary estimates on 7 December 2004. Company sales are expected to be slightly up at EUR 2.023BN in fiscal 2003/4 from EUR 1.946BN a year ago. Schott's pre-tax profit stood at EUR 44M in fiscal 2003/4 compared to a pre-tax loss of EUR 52M for fiscal 2002/3. The company is optimistic for its future, said Udo Engeheuer, chairman of the board. An important step for the company was its conversion into a stock corporation in the summer of 2004. The company has also modernised its portfolio and simplified its legal and administrative structures, Ungeheur said. Schott closed its TV-screen production plant in Mainz, western Germany, effective 30 November 2004, because of a sales slump. The closure affected 300 jobs.
