ILP may seek Dublin listing

ILP is considering a listing on the Dublin market

ILP is considering a listing on the Dublin market. The Irish packaging company which listed on the London Stock Exchange in March this year is "keeping its options open" on a dual listing, its Irish broker said yesterday.

The group, which makes specialist packs and packaging materials for the computer and electronics industry, announced pre-tax profits of just over £400,000 for the six months to June 30th 1996.

It was expected to post slightly higher profits on a turnover of £6.3 million.

An indication of ILP's likely move is the appointment of Goodbody Stockbrokers to act as its Irish brokers.

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Non executive chairman, Mr John Bourke, insisted that although profits were below expcctations the directors still viewed the outcome with confidence.

"Sales are currently strong," he said. "The second half has also tended to be more busy than the first.

Traditionally, computer companies make most of their sales in the months coming up to Christmas. New computer products will also help boost profits over the coming months.

The pre-tax profit of £411.700 includes the group's 50 per cent share in start up losses in Arco/ ILP Moulding Teo, but excludes the group's 15 per cent interest in Iretex Malaysia, as it is not sufficiently material.

The dividend of 66p net will be paid on October 31st to shareholders on the register at September 24th.