Qualceram Shires reports €3.5m profits

Wicklow-based bathroom products maker, Qualceram Shires, has reported pre-tax profits of €3.5m for 2003.

The results follow a loss of €11.6m in 2002 and were helped by a 5% increase in Irish sales.

Turnover fell by 5% to €95m, with a final dividend of 5.25c being declared.

The company hopes to realise €6m for the sale of its loss-making Hanley plant last November.

Looking forward, the company reports demand for its products in 2004 as buoyant, well up on Q1 2003.

Shares in the firm were trading up 5c to €1.80 on the Iseq earlier.