BOXMORE International, the Northern Ireland packaging group, has recorded good growth with a 39 per cent rise in pre-tax profit from £5.48 million sterling to £7.62 million in the six months ended June 30th, 1996.

It said it was encouraged by the current progress and was confident of the future. Mr Stephen Elliott, analyst and planning manager, noted that the group was "not uncomfortable" with brokers predictions. These point to a rise in profits from £11.1 million to £14.2 million this year.

This will represent real underlying growth as Boxmore will have to contend with losses from Glaxo Print Services, the in-house packaging plant of Glaxo Wellcome which was recently acquired. This new business, however, was expected to make a significant contribution in the years ahead, said chairman, Dr Harold Ennis, who retired from his executive chairmanship position at the end of September but remains as non-executive chairman. Mr Sam Moore took over as chief executive last January.

Mr Eugene Green, a former president of the Institute of Chartered Accountants in Ireland, has become a non-executive director.

Boxmore is to initiate a share option and share saving scheme for its employees over a 10-year period. The maximum number of shares that can be issued will be up to 10 per cent of the group's equity.

The latest group results show a 34.5 per cent rise in sales from £33.7 million to £45.3 million. Earnings per share went up from 6.6p to 7.6p. And shareholders are to benefit with a rise in the interim dividend from 0.81p to 0.91p. Boxmore remains in a strong financial position with a gearing of just 12 per cent despite having incurred £9.3 million on capital expenditure. Although the group encountered "intensified competition", operating margins improved from 15.6 per cent to 16.7 per cent.