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S.Africa's Consol glass says Q1 output up 18 pct
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South African glass firm Consol said on Tuesday production volumes grew 18 percent during the first quarter and said it expected volumes to increase by 10 percent during the first half.
"As a consequence, and assuming that the economic outlook for South Africa remains favourable, the prospects for the business remain positive," Consol Chairman Royden Vice said in a statement to the firm's annual shareholders' meeting.
Consol said revenue for the quarter was up 14 percent from the same period a year ago. This was a result of lower prices for its plastic products and other factors.
Consol last month reported a 4.6 percent rise in annual headline earnings per share, which exclude non-trading, capital and some extraordinary items, and said it expects to achieve real earnings growth in the year ahead.
It said at the time selling prices were hampered by the effects of a strong rand currency, while input costs and cheaper imports were a challenge.
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October 19th, 2005
Source: Reuters |
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