Ardagh quarterly profits up €4m

PROFITS at glass and bottling group Ardagh rose marginally in the second quarter of the year ahead of its planned flotation.

In a quarterly update for investors, the group — according to the Bloomberg news service — said profits increased by just under €4 million in the second quarter of the year to €36m — up from €32.4m for the same period last year.

In its statement, the company said: “We continue to see strong inflation in many of our key raw material, especially tin plate and energy. In the second half of 2011, we do not expect to recover all of this inflation.”