Vidrala: First Half 2004 Net Profits Up 15%

Spanish glass packaging manufacturer, Vidrala SA, said net profit rose 15% to EUR 10.1M in the first half to 30 June, 2004, from EUR 8.7M a year earlier, thanks to the contribution of its 77.69%-owned Portuguese unit Ricardo Gallo Vidro de Embalagem. In a statement, Vidrala said sales rose 43% year-on-year to EUR 98.3M in the first half 2004, from EUR 68.3M, despite a decrease in production capacity, while EBITDA grew 33% to EUR 24.4M from EUR 18.3M. The company said it expects to be at full production capacity over the next few months.