Poor summer weather in much of Europe had a dampening effect on results for PLM AB (HQ: PO Box 836, S-20180 Malmö). Group sales were SEK 8.2bn compared with SEK 8.5bn in 1995, while operating profit declined to SEK 548m from SEK 629m. The weather was deemed to have been most significant on results for the Beverage Can Division, although the Plastics Division also experienced a fall in turnover. Sales were down 15% to SEK 672m (SEK 790m) attributed to lower raw material costs which affected sales prices and a drop in volumes. Operations were also affected by the set up of a new refillable PET plant in the Czech Republic which involved the transfer of equipment from Lidköpping in Sweden. The new plant began operations at the beginning of 1997, although it will not be fully operational until 1998 by which time it will increase PLM's capacity for refillable PET bottles by 50%.

READER SERVICE: PLM 1996 Annual Report: PIE-No. 40978.