Ardagh has €30.15m loss

ARDAGH reported pre-tax losses of €30.15 million for the year ended December 2002.

The figures show that pre-tax losses of €18.8 million were run up at the demerging glass operations, and the discontinued Dublin operations made losses of €11.96.

However, the company said the results for the discontinued business include the costs of closure of the Ringsend plant and associated redundancy payments amounting to €12.2 million. The losses were made on a turnover of €317.59 million.

The company also disclosed that the legal dispute with Dublin Port Company over the right of Ardagh plc to obtain a change of user in relation to the substantial facilities at Ringsend is expected to reach the courts this summer. The site has been identified as a possible location for the proposed national sports arena.

The company said production of glass bottles ceased at the Ringsend plant at the beginning of July 2002.

“An agreed settlement was finally reached with the workforce and sales to customers of previously produced stock continues.”