Tomra outlook optimistic

Norwegian bottle and can recycling group Tomra said on Thursday that third-quarter pre-tax profits slightly outperformed market expectations by falling only 4.9 percent. Profit before taxes totaled NOK 117 million (USD 15.68 million) in the three months to September 30 against 123 million in the same quarter last year. Tomra, which is a market leader in making machines that accept bottles and cans for recycling while repaying clients a deposit, said in a statement that it was optimistic about future market outlooks. Tomra's main hope for future growth lies with a German government plan to widen deposits to cans and other non-refillable drink containers from 2003.