Athlone Extrusions, the Co Westmeath plastics company, has announced a pre-tax profit of £2 million (€2.6 million) on a £13.6 million turnover for the six months to March 31st.
The pre-tax profit and turnover are both down by 9 per cent when compared with the equivalent period in 1998 due to a decline in sales in Britain. But the chief executive, Mr Jimmy McGee, said he expected an increased focus on European markets and some signs of recovery in British sales would bring the full-year figures in line with those of 1998, when a pre-tax profit of £4.23 million was made.
In line with company policy, Britain accounts for a declining proportion of sales, decreasing from 61.7 per cent in 1998 to 56.4 per cent in the six months to March.
He added that there were some signs of a change in that scenario but the company was operating in 27 countries worldwide and "substantial progress" had been made in EU and non-EU markets.
The results show that sales to Britain declined by 18 per cent, from £9.3 million to £7.7 million. Sales in non-EU countries and the Republic had slight decreases.
