Profits soar at SSL International

CONDOM maker SSL International today announced a whopping 45% hike in profits, boosted by strong international demand.

The group, which is the home of Durex and Scholl brands and has its European headquarters  at Trafford Park, said in the six months to September 30, pre-tax profits were up 45.7% to £39.1m from £28.1m last time.

Group sales were up 22.8% to £322.5m, while it hiked its interim dividend by 13% to 2.6p a share.

Sales of Durex increased by 7.1% to £105.4m on the back of strong sales growth in Russia and China. Its Scholl footcare business saw turnover increase 15.1% following increased demand in the UK, Italy, Holland and Eastern Europe .

Demand from the Asian markets helped increase sales in the Scholl footwear business by £3.7m to £42.8m.

SSL International chief executive Garry Watts said: “We continue to generate strong sales and profits from our global brands, Durex and Scholl, thanks to our strong product portfolio, increased investment in innovation and marketing and the passion of our people.

“While we are cognisant of the difficult trading environment we’re optimistic about our future and remain confident of achieving our target of double digit operating profit growth again this year.

“Looking further ahead, we have the prospect of significant further growth from the acquisition in Eastern Europe, continuing organic growth and, as opportunities arise, from further synergistic acquisitions.”

Yesterday SSL International announced it had paid £3.8m for Switzerland’s third biggest condom maker Crest.