Vertex Litomysl Raises Its Revenues

Vertex litomysl, the only Czech producer of glass fibres and fabrics, doubled its net profits to a record Kcs 244m last year and raised its revenues by 18% to Kcs 3.36bn, according to a report. Pre-tax profit rose by Kcs 228m to Kcs 437m last year and total assets grew by 13% year-on-year to Kcs 5.66bn. The company also reduced its loan burden by 38% to Kcs 1.18bn. After last year's hike, share capital equals Kcs 2.05bn. Saint-Gobain owns over 99% of Vertex shares through the German Vetrotex company.