News

Resilux, the Belgian PET packaging manufacturer, has reported an 86% increase in pre-tax profit to EUR4.3m (£2.7m) for the first half of 2008.

The company's turnover was €113.2m in the period, compared with €105.5m in 2007.

Resilux reported that preforms and bottles volumes rose by more than 11% year-on-year as the PET packaging market grew.

The company said it expects to see an increase in profit in the second half of the year despite poor weather across most of Europe.

"We expect an increase in volumes for the second half year of 5 to 10% compared with the second half of last year. This volume increase should lead to an improvement of the operational cash flow," the company said in a statement.

During the first half of the year the company invested in an additional production line in Spain and a building extension in Hungary.

The company also has operations in Russia, Greece, Switzerland and the US.