Industrial distribution group Unidare has reported operating profit of €4.3m for the six months ended March 31 2004, up €0.3m on last year's figure.
Turnover came in at was €99.2m, down from €104.8m from the same time in 2003, its interim results showed today.
The company reported that costs were substantially reduced following the downsizing of its central office.
Its US interests saw Unidare consolidate five small distribution centres into one major distribution centre in California while its wholesale service firm ORS Nasco Saw sales increase to $86.6m (€70.69).
In Europe, its Dutch-based manufacturer of water heaters and heating components Daalderop saw sales up to €18.8m and operating profit come in at €2.7m.
The Group also said that while current high copper prices are a concern - should sales levels persist - progress should continued to be made in 2004.
Shares in the firm were up 2c to €1.77 on the Iseq this afternoon.