Joint Stock Company Valmieras Stikla Siedra Reports Unaudited Consolidated Earnings Results for the Year Ended December 31, 2016; Provides Earnings Guidance for First Month and Year of 2017
For the year 2017, Considering the positive growth trends in the global glass fiber market, the constantly developing fiberglass industry and the high demand for glass fiber products the management of the joint stock company predicts that the group's consolidated net sales in 2017 will reach EUR 135 million to EUR 142 million, which will make a consolidated net profit of EUR 9.5 million to EUR 10 million.
For the first month of 2017, the group's management indicated that the preliminary results of the first month of 2017 confirmed the trend as the group's sales came to EUR 12.7 million and profit grew by 33% against January 2016 to EUR 1 million in January 2017.