Group results announced.

Pilkington plc has just published its results for the year to 31 March 1999. Operating profits were up by 20% on 1998 figures at 214 million [pounds sterling], before exceptional items and including Pilkington's share of joint ventures and associates. This is equivalent to 223 million [pounds

Turnover was 2.7 billion [pounds sterling], down 8% at constant exchange rates, largely as a result of the disposal of less profitable businesses.

In his statement, Sir Nigel Rudd said that in the 1998 - 99 period the Group had made significant progress in its plans to make Pilkington fully cost competitive in its industry and that it was a "leaner, fitter group, positioned for profitable growth".

Overhead costs have been reduced by more than 160 million [pounds sterling] over two years. In addition, the European Building Products business results have been improved with an increase in profits of more than 80% in 1998-99. Finally, investment in the European Automotive OE business is paying off.