Pilkington has moved to reassure investors that its plans for recovery have not been knocked off course by the Brazilian currency crisis. Pilkington said that the devaluation of the real would have a one-off adverse impact on the value of its working capital in Brazil of around UK£15m. It added that, at constant exchange rates, its results for the first 9 months of the year were in line with expectations. Analysts said the announcements on Brazil & on currrent trading were not that significant in themselves but illustrated an increased "openness" by the company. "The announcement on Brazil does not mean that much because the real is a floating currency & the figures will certainly change at the end of the financial year," said one stockbroker, who added that most analysts were expecting an 8% increase in Pilkington's overall profits before tax this year to about UK£130m.
