Hit by economic weakness

Siro of Ternberg, Austria, has experienced a slight decline in sales for the 2001/2002 financial year. The company announces a total volume of around € 20 mio (previous year: € 22 mio). It claims to have doubled its profit, however. Exports to America and Germany were especially hard hit by the economic slowdown, though Germany still remains the most significant foreign market. For the first time Siro has supplied all the DIY chains in Austria with furniture fittings, thereby increasing its volume of trade by almost 20 per cent.