Ardagh profits on `green' credentials of glassware

IN an environmentally conscious society disenchanted with the ubiquitous plastic as a packaging material, both industrial users…

IN an environmentally conscious society disenchanted with the ubiquitous plastic as a packaging material, both industrial users and consumers are rediscovering the "green" benefits of glass as a reusable container for a variety of liquids. This heightened awareness is helping business growth at glass manufacturer Ardagh, once known as the Irish Glass Bottle Company.

In the year to end June last, pre tax profits at the group rose 12.2 per cent to £5.8 million with higher volume sales complementing productivity gains. Turnover improved 5.6 per cent to nearly £36 million.

Managing director, Eddie Kilty, said rising drink sales due to the good summer weather assisted turnover and the production process benefitted from a new compressed air system installed during the year.

Unlike some conservative companies, Ardagh is not bottling up its return to shareholders. With earnings per share rising to 14.81p, investors receive 10.7 per cent higher total dividends of 4.645p a share.