PILKINGTONS' pre-tax profits have soared by £212 million, a rise of 47%, according to group results for the year to March, 1996.

And Nigel Rudd, Pilkington chairman is predicting continued progress for the St Helens-based company which has worldwide interests.

Recently the company announced it would be shedding 1,900 workers 'progressively' in its operations around the world, with some 250 jobs expected to go at Triplex in St Helens as part of the group's restructuring plans.

Mr Rudd says in the annual results: "The group continues to make progress. During the year, we have strengthened our position in Europe, our largest market, through two major acquisitions. In addition, we have embarked upon a strategic programme of restructuring designed to maintain the momentum of improved margins in an increasingly competitive world. In the meantime we have continued to grow both earnings and dividends."

He continues: "During the year we continued to focus our effort on the group's core businesses of flat and safety glass and consolidated our leading positions, in Europe, North and South America and Australasia. We have also further developed our international presence in the Asia/Pacific region and in Eastern Europe.

"The group's strong profits growth was led by an improved building products business in Europe. In transport products continued to be affected by worldwide price presure. In March a three week strike at General Motors, our largest customer, led to a partial lay-off at LOF automotive glass factories."

Mr Rudd went on to highlight that building products sales had grown by 9% to £1.6 billion with operating profits in this area rising 35% to £161 million. Transport product sales rose by 11% to £1.2 billion but profits declined slightly to £68 million. Pilkington Aerospace returned to profit with sales up by 10%.

Mr Rudd concludes: "The balance of the group around the world, combined with the continued emphasis on cost reduction, cash generation and improved productivity arising from the restructuring programme, places the group in a good position to make further steady progress."

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