Ardagh this year reported 2002 earnings before interest, tax, depreciation, and amortisation of €70.2 million, against €67.2 million the previous year.
Ardagh, the publicly quoted company that closed the Irish Glass Bottle Company in Ringsend, Dublin, said its glass operations in Britain and Italy performed in line with expectations in the early part of 2003.
It said production capacity is sold out and modest price increases are being obtained.
Ardagh said weak consumer demand increased pricing pressure on its customers who in turn resisted input cost increases.
However, the reduction of its capacity in the Irish market and Britain has helped improve the pricing environment in Britain as has the decline in sterling relative to the euro.
Ardagh is planning a capital-expenditure programme for Heye Glas to bring operating margins closer to acceptable levels whilst the prospects for Heye International remain favourable with a number of significant contracts at an advanced stage of negotiation.
Sales totalled €317.6 million, against €304.3 million the previous year.
Adjusted earnings per share were 41.57 cents, against 33.47 cents.