In what has come as a relief to Jablonex Group, one of the leading glass and jewelry producers, the company suffered a loss of Kc50m in 2006, which is a lot less compared to the massive setback of a Kc130-m loss in 2005.
Speaking to mediapersons today, Petr Karasek, Jablonex executive director, listed investment adjustment and change in company's organizational structure as reasons for the loss in revenue.
In 2006, the company recorded sales worth Kc2.7bn which was Kc100m lower than in 2005. Miroslav Jotov, Board Deputy Chairman, said this was mainly due to unfavorable rate of dollar, the currency which accounted for roughly 60 percent of orders.
In order to cut down further losses, the company is jettisoning unprofitable products and drastically cutting down its workforce. Since the beginning of this year, Jablonex has laid off over 100 employees.
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