[Italy] Profits Rise In 2008 For Zignago

Italian container glass manufacturer Zignago Vetro SpA reported a consolidated net profit of EUR 33.7M ($43.4M) for 2008, up 35.1% on the year. The group's consolidated revenue amounted to EUR 256.7M (EUR 240.6M) the company said in a statement. Net profit accounted for 13.1% of sales, compared with 10.4% in 2007. Exports amounted to EUR 84.5M, up 6.9% on the year. EBITDA rose 8.7% to EUR 69.9M. Earnings before interest and tax (EBIT) came in at EUR 47.6M, climbing 11%. EBIT represented 18.5% of the revenue, against 17.8% in 2007.