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Globus losses increase to Ft 1.48 bln

Canning company Globus Rt had net losses of Ft 1.48 billion in January-September of 2005, as against of net profit of Ft 89 million the same period a year earlier, according to its consolidated flash report, prepared with International Financial Reporting Standards (IFRS). Globus issued a profit warning on November 8, announcing that its annual losses would be between Ft 1.2 billion and Ft 1.4 billion. Losses in the third quarter totaled Ft 460 million. The slight drop in quarterly losses was mainly due to increasing exports, the report noted.