Low & Bonar posts near stable H1FY'13 sales

05 Jul '13

1 min read

Low & Bonar PLC, the international performance materials group with leading positions in niche industrial markets, announces its half-year results for the six months ended 31 May 2013.

Highlights:

-Good growth in Flooring, Industrial and Transport sectors

-Civil Engineering and Building Product sectors adversely affected by abnormal weather conditions across Europe

-Improved performance by Yarns

-Continued investment in organisational capability to support global growth strategy

-Interim dividend increased by 6.3% to 0.85p per share

-Good sales momentum carried into traditionally stronger second half

-On track to meet expectations for the full year

Martin Flower, Chairman, said:

“The strategy and strong fundamentals of the Group remain unchanged and we have continued to invest and build organisational capability to support future growth.”

“In the first half of the year an extended period of abnormal weather across Europe temporarily interrupted our progress and has led to lower profits. Outside of Europe and in sectors largely unaffected by the weather the business has continued to show good growth. With sales momentum renewed as the Group enters the traditionally stronger second half we remain confident of meeting expectations for the full year.”

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Low & Bonar

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