Losses down 55% at Pilkington’s auto division

PILKINGTON Automotive, the new and replacement car glass division of the Japan-owned Pilkington Group, has revealed a steep fall in annual losses, but warned of challenging times ahead.

The business unit, which is headquartered in Ormskirk, Lancashire, and has operations in Europe, Japan, North and South America, China and Malaysia,
said improved results for the year to the end of March were the result of “significant restructuring” activity in 2010.

Turnover rose 9% to €707.7m while operating profits before exceptionals fell
55% to €16.2m from €35.7m a year ago.

In newly-filed accounts the company said turnover was generated throughout Europe via traded sales from Pilkington manufacturing sites and warehouses in the UK, France, Germany, Spain, Sweden and Poland.

Employing 724 people – down marginally from around 740 last year – Pilkington Automotive, part of NSG Group, said: “The market recovery was ahead of expectations, this helped drive a year-on-year improvement in prime margin for the business.

“The aftermarket business held up well despite the economic downturn and saw a year of small business growth. Market demand was strong, both in domestic and export sectors.

Looking ahead, the company was said market conditions were likely to be challenging: “The future will continue to be highly competitive and difficult with a demanding customer base.

It said though that new models being launched by auto manufacturers do offer “exciting opportunities for new business”.