Newsletter #068 (View other news stories)
BELET PROFITS SLIDE AS IMPORTERS' CURRENCIES WEAKEN
VEJPRTY, Czech Republic
Thursday, 1 Aug 2002
Forklift manufacturer Belet has posted KC1.1 million (USD35,601) profit from KC58 million (USD1,877 million) in sales for the 2002 first half to June 30, down from KC2.49 million (USD80,587) in revenue from KC70 million (USD2.265 million) in sales, according to the company's results.
Sales director Petr Nuslauer told CTK Business News that profits dropped because of the firming Czech currency and weaker currencies in export markets. Exports account for 46 percent of Belet's output, with the main export nations being Italy, Russia, Poland, Slovakia, Germany, Great Britain, the US and the Ukraine.
"The outcome of the lower value of the US dollar and eventually the Euro has manifested itself in lower revenues from exports and a drop in export margins," Mr Nuslauer said.
Belet employed 98 people at June 30, unchanged from the previous year. Belet's main product is forklifts, which it launched in September 1997 under a cooperative agreement with Prowel, of Taiwan, and Marioti, of Italy.
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