ESTONIA: Sliding Russian sales hit Norma net - report
Estonian automotive parts maker Norma posted a 34% drop in 2003 net profit to €8.2 million on Wednesday due to a steep fall in Russian sales, in line with analysts' expectations, Reuters said. According to the news agency, 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% in 2003 from the year before, but added that sales to western customers grew by 18%.
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