Eco-Bat Technologies Ltd., the largest lead producer in Europe and South Africa, reported a 19 percent increase in 2011 net income as the average price of the metal used in batteries rose.
Net income gained to 102.7 million pounds ($166.1 million) from 86.5 million pounds in 2010, the Matlock, England-based company said in an e-mailed statement today. Revenue jumped to 1.83 billion pounds from 1.57 billion pounds.
Lead for delivery in three months averaged $2,389.95 a metric ton on the London Metal Exchange last year, up 10 percent from a year earlier. Lead sales declined 0.7 percent to 838,222 tons, Eco-Bat said. The company owns 17 plants from the U.S. to South Africa. Its H.J. Enthoven & Sons unit in Darley Dale, England, operates the largest lead-acid battery recycling plant in the U.K.
((Eco-Bat will hold a conference call at 2 p.m. U.K. time on Monday, April 30. The dial-in number is +44-20-8515-2306 or U.K. toll free +0800-358-5256. A replay will be available for two weeks on +44-20-7959-6720 or U.K. toll-free on +0800-358-9369, pin code 4535143#.))
To contact the reporter on this story: John Deane in London at firstname.lastname@example.org
To contact the editor responsible for this story: John Deane at email@example.com