Czech state-owned military equipment repair company Sternbersky vojensky opravarensky podnik (VOP) raised its audited net profit to CZK 22.6 million (EUR 793,539) last year from CZK 17.6 million (EUR 617.977) the previous year, the firm said in its financial statement published in the Commercial Bulletin.
Revenues from the sale of products and services grew to CZK 842.9 million from CZK 644.6 million (EUR 29.59 million – EUR 22.63 million) in 2004.
At end-2005, VOP had total assets worth CZK 1.2 billion (EUR 42 million) and owners equity worth CZK 1 billion (EUR 35 million). Loans amounted to CZK 153.7 million (EUR 5.40 million) against CZK 115.7 million (EUR 4.063 million) a year earlier.
VOP is known abroad above all for an order which involved the modernisation of 350 infantry fighting vehicles for the Swedish Army between 1998 and 2001.
This year, VOP obtained an order worth more than CZK 2 billion to supply special bodies for the armoured personnel carriers which the Czech Army should buy from Austrias Steyr. Defence Minister Karel Kuehnl (the Freedom Union, US-DEU) and Steyr representatives signed the contract on the purchase on June 9.
VOP Sternberk, set up by the Defence Ministry, employs around 950 staff in its five divisions.