City File: Warming up

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The Independent Online
The market was looking the other way when Barlo Group, the Irish radiator manufacturer that is a leader in the UK market, announced a 112 per cent leap in its full-year profits to Ir pounds 3.9m ( pounds 3.86m) on Wednesday. It showed sales of radiators are heating up, notably in Europe.

But the real excitement at Barlo comes from IRG, the plastics group bought last July for Ir pounds 21.6m. Goodbody stockbrokers in Dublin reckon Barlo will make pounds 4m this year and as much as pounds 7m in 1993/4 as IRG delivers its promise. At 57p, the shares look attractive.

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