South Wharf has reported pre-tax profits of €400,000 for last year, though this included exceptional gains of nearly €2m. Trading losses rose from €1m in 2003 to €1.4m. South Wharf was formed after the demerger of Ardagh Glass.
The company has been refused permission to use the former glass making plant at Ringsend in Dublin for warehousing, but said it could make a fresh application to the Dublin Port Company and was reviewing its options.
It added, however, that the area occupied by the Ringsend site had recently been rezoned to permit commercial, residential and retail use, while Dublin City Council had also proposed an area action plan for the Poolbeg area. As a result, South Wharf has asked a team of professionals to prepare a master plan for the site.
The company is also looking at increasing its glass activities at Ringsend.
