[Austria] Wine Glass Company Riedel: Results

Despite unfavourable exchange rate developments and stagnating trade in Europe, Riedel Tiroler Glashutte GmbH, Kufstein, recorded a 3% increase in net profits, totalling Euros 90M in the last financial year. The traditional family-owned business produced 7.8M glasses, of which 600 were hand-made. The stem glassware manufacturer sees room for expansion in the United States. Riedel is aiming for 25% increase in turnover in the current year. Whereas at present 40% of turnover is made in American, in five years this figure should rise to 50%.