Vidrala: 1Q 2009 profit up 3.2%

Spanish glass container manufacturer Vidrala on 4 May 2009 reported a net profit of EUR 9.4 million (USD 12.5 million) for the 1Q 2009, up 3.2% year-on-year.
Sales went down by 9.9% to EUR 90.1 milli…

Spanish glass container manufacturer Vidrala on 4 May 2009 reported a net profit of EUR 9.4 million (USD 12.5 million) for the 1Q 2009, up 3.2% year-on-year. Sales went down by 9.9% to EUR 90.1 million, Vidrala told Spanish stock market regulator CNMV, underlining that the market for glass containers used in the food industry is not immune to the crisis. Earnings before interest and taxes (EBIT) increased by 0.7% to EUR 15.1 million. The company however expects to recover its usual demand levels over the next months.