Estonia's Norma 2003 net profit drops 34 pct

Newswire

TALLINN, Jan 21 (Reuters) - Estonian auto parts maker Norma posted a 34-percent drop in 2003 net profit to 8.2 million euros on Wednesday due to a steep fall in Russian sales, in line with analysts' expectations. Norma, which supplies safety belts and other car components, said in an unaudited results statement that sales to its main market Russia dropped 21.4 percent in 2003 from the year before, but added that sales to western customers grew by 18 percent. Henno Viires, a broker with ...

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