NetComposites
3M

Venezuela: Sudamtex sales drop

02 March 2001

Venezuelan textile group Sudamtex, one of only ten listed companies to have filed their annual reports for 2000 with the Bolsa de Caracas by mid-February 2001, lost Bs$3.49bil in the second semester of the year 2000 and its first semester of its own financial year. In the same period in 1999, the losses totalled Bs$2.17bil. Total sales for July-December 2000 came to Bs$24.36bil compared to Bs$26.13bil in the second half of 1999 whilst gross profits dipped from Bs$3.24bil to 3.16bil. Sudamtex also makes glass-fibre products for industry.