The World Cup boosted sales of the plastics company Athlone Extrusions in France and contributed to its drive into continental EU markets, its commercial director, Mr Jackie Browne, said yesterday. He was speaking at the announcement of results which showed an increase of 15 per cent in its pretax profits to £2.2 million for the six months to March 31st.

The company, which was floated in February, manufactures plastic sheets for sanitary and industrial markets. It saw a declining proportion of its business in Britain, from 69.8 per cent of turnover to 61.7 per cent, in accordance with its objective, although volumes grew from £8.4 million to £9.3 million. There was a corresponding proportional increase in its European market sales.

The company is actively seeking an acquisition to establish a manufacturing base in continental Europe and "could look at a company of up to £15 million without going back to the market," the chief executive, Mr Jimmy McGee, said. "We feel that now we can take the model that we have in Athlone into another company," he said.

Mr Browne said Athlone Extrusions had more than 400 customers in 24 economies. He pointed to a proportional increase in European markets, saying that, in France, use of its product for point-of-sale and display purposes had increased in the run-up to the World Cup. Sales in Germany had also shown significant growth because of hotel refurbishment programmes and a buoyant caravan market.

Turnover increased across all markets, but showed most growth in non-EU countries, which include Egypt, Australia and New Zealand. It amounted to £929,000 or 6.2 per cent of the total £15 million, compared to just £136,000, or 1.1 per cent, of the £12 million turnover in the corresponding period in 1997.

Trade in EU countries outside of Britain amounted to £4 million or 26.7 per cent of turnover, compared to £2.7 million or 22.5 per cent of turnover in the previous period. Sales in Ireland saw a slight increase, from £803,000 to £812,000.

Earnings per share were up by 13 per cent, from 3.7p to 4.16p, "even with the increased shareholder base", the financial accountant, Mr Enda Cunningham, said.

The company was originally formed in 1973 and underwent management buy-outs in 1983 and 1990 before being floated last February