Jablonex Group, one of the largest Czech glass and jewellery makers, generated profit of CZK 100M in 2007, though sales fell by about 9% to CZK 2.2BN, deputy board chairman Miroslav Jotov announced 1 July 2008. The group was in the black thanks to the sale of stocks and repricing. However, the glassmaking industry is in its biggest crisis in living memory, Mr. Jotov said. In 2006, Jablonex posted a loss of CZK 59M on sales of around CZK 2.5BN. Sales are likely to continue declining in 2008 and the company will probably end in the red again, he added. The firm is losing hundreds of millions of crowns due to the strength of the Czech crown against the dollar, since an overwhelming part of the company's output is exported to dollar markets. Workforce reductions cannot be ruled out, Mr. Jotov said. At present it employs 2,400 staff.
