Pilkington Releases First Half Earnings

Pilkington plc, headquartered in the U.K., released its earnings for the first half of 2004, through September 30. Profit on ordinary activities before taxation was at GBP 87 million (USD 160 million), compared to last year at GBP 84 million (USD 154 million). According to a company news release, results were in line with expectations.

"The group's results in the first six months of the year confirm the expectations set out in our previous statements, with robust profits achieved, despite rising costs and the impact of the strong pound," said Sir Nigel Rudd, chairperson. "Indeed, headline profit at constant exchange rates was up 14 percent. Continued strong cash generation has enabled the group to reduce borrowings by 20 percent in the last twelve months. Conditions in most of our markets remain challenging, although the demand outlook is becoming somewhat more positive."


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