Cristalerias de Chile profits down in 2003.

South American Business Information, March, 2004

Chile, Mar 30, 2004 (Estrategia/SABI via COMTEX)

Cristalerias de Chile, the Chilean glass container manufacturer, posted profits of Pesos$6,427mil in 2003, down 64% from profits of Pesos$17,837mil in 2002. The strong fall can be attributed to the deepening of non-operating losses from Pesos$13,132mil in 2002 to Pesos$28,027mil in 2003, which in turn reflected the turning of foreign exchange profits of Pesos$4,998mil in 2002 into losses of Pesos$127,065mil. Operating profits fell by 10.4% to Pesos$37,642mil, reflecting a 10% rise in operating costs. Sales increased by only 4.5% to Pesos$169,941mil.

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