Vidrala is aiming for a 15% increase in profits in 2007, thanks to the lower rise in energy prices and the profitability of the plants acquired in 2005, the Spanish container glass manufacturer said 3…
Vidrala is aiming for a 15% increase in profits in 2007, thanks to the lower rise in energy prices and the profitability of the plants acquired in 2005, the Spanish container glass manufacturer said 30 May 2007. “We can“t keep up the 22% pace in the 1Q of the year but we are confident the lower growth in energy costs will drive earnings”, said the president of Vidrala, Carlos Delclaux. Vidrala generated a net profit of EUR 7 million in the 1Q 2007, up 22.5% on the 1Q 2006. Mr. Delclaux added that the company hopes to close 2007 with sales up more than 12% on the EUR 307 million in 2006, thanks mainly to a better balance between supply and demand in Europe. “In the 1Q we made sales of EUR 12 million and we hope to do improve on this figure thanks to the good conditions in our main market”, said Mr. Delclaux. He said that in the main geographical area the Mediterranean diet is driving sales of glass containers. “We want glass to serve our clients as a way of differentiating their products and helping them create their brand”, said the president. Vidrala reiterated its interest in making acquisitions in southern Europe.
