The company also expects to resume payment of dividends out of 2009-2010 profits.

The annual general meeting - held in Adelaide in late October 29 - revealed that underlying profit after tax had increased by 36 per cent to $9million in the financial year to 30 June 2009, after sales revenue jumped 20 per cent to $162million.

Company highlights:

- Soda Ash demand is robust and Australian glass markets - the main area of supply - have weathered the global financial crisis well

- Demand for sodium bicarbonate is excellent

- The Angaston quarry operations are heading for another stronger contribution in the current financial year and the work with the community is a priority.

John Heard, the company’s outgoing board chairman, offered an update on the company’s position on emissions trading at the AGM.

“Penrice’s operations are energy intensive, using a range of energy sources - including gas, electricity and steam,” Mr Heard said.

“The company is a significant greenhouse gas emitter and has identified that it is subject to the national Greenhouse and Energy Reporting Scheme.”

Under the government’s proposed Carbon Pollution Reduction Scheme, Penrice has been accepted as an Energy Intensive Trade Exposed Entity at 90 per cent - the highest level of permit allocation.