Manufacturing company Barlo today said the committee set up to look into an offer approach from chief executive Dr Anthony Mullins is still in talks.
The committee comprising chairman Mr Niall Carroll and Mr John Farrell is dealing with the approach.
AIB Corporate Finance has been appointed independent financial adviser, the company said in a statement.
Separately, the company announced that in the six months to September, sales rose to €155.5 million from €146.4 million while pre-tax profit was €3.107 million versus €2.226 million. The results were in line with market expectations.
Basic EPS was 1.37 cents, up from 0.94 cents. Mr Tony Mullins, group chief executive, said: "The group continues to believe that challenging market conditions will prevail into the second half of theyear."
AFP