New Pilkington CEO sees tougher year ahead

Date: 30 May 2002
Source: Yahoo

Date: 30 May 2002

British glassmaker Pilkington Plc's newly installed chief executive said on Wednesday he did not expect the tough market conditions seen in the second half of last year to improve for most of this year.

"On balance (it will) probably be a somewhat tougher year than last year," Stuart Chambers, who took over as CEO from Paolo Scaroni this month, told reporters in a conference call.

The group had reported underlying pre-tax profits of 228 million pounds ($333.5 million) for the year to March 31, up from 222 million the year before and just above a consensus forecast of 226 million.

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