Barlo gets €2.26m in profits

PLASTICS and radiator group Barlo yesterday announced a return to profitability for the six months to the end of September.

The company made pre-tax profits of €2.26 million in the period, compared to a loss of €6.9 million in the corresponding period of 2001, and is on course to make profits of €9 million in the full-year to the end of March. But last year’s results included a once off €7.8m exceptional charge.

“The significant improvement in the Group’s performance in a difficult trading environment, reflects the benefits of the restructuring programme undertaken last year,” said chief executive Tony Mullins.