IWP posts first-half profit increase

Personal-care group IWP today posted a 26 per cent rise in first half operating profit before goodwill and exceptional items.

Personal-care group IWP today posted a 26 per cent rise in first half operating profit before goodwill and exceptional items.

It also said it is in talks to secure revised funding arrangements to reduce debt levels and improve earnings.

The costs associated with the revised funding discussions will impact on future earnings, although the company is confident that a satisfactory outcome can be achieved before its financial year-end on March 31st, it said.

For the coming years, the company said it will prioritise to reduce borrowings by, among others, selling non-core assets and maintaining a strong focus on managing its brands and further developing customer relationships.

In the six months to September 30th, operating profit before goodwill and exceptional items rose to €4.3 million from €3.4 million but sales revenue before exceptionals fell 11 per cent to €99.6 million from €12.2 million.

Second half year trading has started well which, giving the group confidence its full-year performance will remain ahead of the year earlier. No dividend is proposed.

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