National Glass & Crystal Co - Net Loss For First Quarter 2004

Egyptian glass and crystal maker National Glass & Crystal Co, posted a net loss of EGP 5.43M for the first quarter of 2004, down from a net loss of EGP 8.4M in the same period 2003. The firm reported net sales of EGP 21.76M, up 32.5% year-on-year. The cost of goods sold was EGP 13.18M and marketing expenses were EGP 137,000. Gross profit totalled EGP 8.44M, an increase from EGP 4.18M. The 9.75% growth in financing expenses to EGP 13.28M led to a 10.5% increase in total expenses to EGP 14.1M, while interest income did not exceed EGP 217,000.