Sanex business drops

The ceramic tile producer Sanex Cluj, part of the Austrian group Lasselberg”s portfolio, posted a net profit worth a mere 102,000 euros in the first quarter, a four-fold decline since the period of last year. The company”s turnover dropped by 36%, to 11.7 million RON (3.2 million euros). The drop in euros stood at 34%. “The extension of the cold season into the month of March caused the volume of sales to be lower than last year. This had a negative impact on the volume of sales, which was felt both in the time needed for receivables to be recovered, as well as in the low amounts of cash available.” This is how company officials commented on the financial results. In 2005, Sanex also saw a steep decline by some 67% in its business volume, reaching 75.2 million RON (20.7 million euros). ZF