Baccarat'S Relaunch Hits Profits

The relaunch of French crystal maker Baccarat led to an increase in operating costs in 2007, with a negative effect on profit. Net operating profit fell by 26.4% to EUR 6.9M, while net profit plummeted by 48.5% to EUR 4.1M. In contrast, turnover grew by 3.5% to EUR 142.8M. In 2008, the company plans to continue to invest in marketing, design and production. Baccarat warns that the implementation of development plans will place a burden on its results in the short term, but emphasises that this will ensure long-term growth and profitability