Oglesby makes profit

ISEQ-listed toolmaker Oglesby & Butler recorded profits of €70,000 for the six months to the end of September, compared with a loss of €35,000 in the same period last year.

Group sales were €2.58m, down from €2.6m in 2005.

The company says that a reorganisation and restructuring enabled the achievement of cost reductions and higher productivity and helped to keep products competitive in difficult trading conditions.

The board has decided not to declare an interim dividend. This decision will be reviewed at the end of the year.

The company says it expects trading conditions in the second half of the year to remain difficult.