Vetropack: 2005 net profit up 22%

Swiss packaging company Vetropack Holding AG reported a 22% rise in net profit to CHF 50.9 million from CHF 41.7 million in 2004 as the company was able to offset higher energy costs with gains in mar…

Swiss packaging company Vetropack Holding AG reported a 22% rise in net profit to CHF 50.9 million from CHF 41.7 million in 2004 as the company was able to offset higher energy costs with gains in market share in fast-growing Eastern Europe. Sales for 2005 were CHF 519.8 million against CHF 485.4 million in the previous year, while EBIT rose to CHF 61.8 million from CHF 55.5 million in 2004. The company, which recently bought a 75% stake in a Ukrainian glass packaging company, said it wants to increase the dividend per registered share to CHF 3.2 from CHF 2.8 and also increase the dividend per bearer share to CHF 16 from CHF 14. Vetropack said that following the takeover of Ukrainian Gostomel Glass it expects an increase in sales in 2006.