Pilkington plc has recorded a robust business performance in the 6 months to 30 Sept this year, in spite of production costs pressures & the strength of sterling. Profits on the company's ordinary activities before tax was £82M, compared with £71M for the same period last year. Pilkington's turnover in the first half (including joint ventures & associates) was £1,300M, up 1%. Group operating profits, however, fell by £4M to £94M. Unfavourable currency exchange movements have had a significant impact on Pilkington's sales results. Its building products sales for the first six months of 2004 fell by 5% to £599M, compared with the previous year. Meanwhile, its auto glass products sales dropped further, by 11% to £544M. Pilkington makes most of its building products sales, around two-thirds, in Europe, where markets are showing signs of recovery.
