Zignago Vetro reports 5.6% rise in revenue

Italian hollow glass manufacturer Zignago Vetro reported ‘strong’ first half 2015 financial results as a result of improved demand in its markets.

It reported improved demand in the cosmetics, perfumery and luxury perfumery markets and said it saw signs of improved demand in the European food and beverage containers markets.

The Italian market performed in line with Europe, even if demand levels are still not balanced with supply, it said in its Half 1 2015 financial report.

The global cosmetics market saw continued strengthening demand, particularly in certain product categories. The perfumery market also maintained the growth trend of last year, driven in particular by consumption on the emerging markets.

In particular, Luxury Perfumery market demand was instead affected by the use of flankers and excess supply on the market.

Overall, in the first half of the year the group strongly improved revenues, driven by volumes - while also growing margins.

Consolidated revenues in the first half of 2015 was €160.6 million compared to €152 million in the same period of the previous year  - a rise of 5.6%.

Export sales were €62 million in 2015, up 10.4% compared to the year before period.

Consolidated net profit in H1 2015 was €13.2million, compared to €11.5 million in H1 2014, an increase of 14.4%.