Srubex Profit Plummets
February 23
00:00
2007
Srubex Profit Plummets
Jason Sandefur
Polish fastener manufacturer Srubex reported sales grew 6% to PLN 138.75 million (US$46.9 million), while operating income increased 51% to PLN 1.51 million (US$510,548). Net profit dropped to PLN 460,000 (US$155,530).
Srubex’s share capital stood at PLN 4.33 million (US$1.5m), divided into 1,798,070 shares at the end of 2006, Polish News Digest reported.
Srubex made news in October 2006 when the Koelner Group announced an effort to buy up Srubex shares. The move drove up Srubex shares 30%.
Srubex was founded in 1957 and exports 70% of its output to Belgium, France, Spain, Portugal, the U.S., the Czech Republic, Slovakia and Hungary. Web: srubex.com.pl �2007 FastenerNews.com
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