Materials group issues optimistic trading statement
Materials group Low & Bonar expects “material improvement” in second half profit, it said in a trading statement out this morning.
In a brief update to the stock market covering the period from 19 October to 30 November, the firm said sales in the second half of the year had increased in all sectors, most markedly civil engineering and transport.
It said: “We continue to expect that, in line with the group's normal seasonal trends, second half profit will be materially improved compared to the first half and in line with our expectations.”
It said it also expected net debt to be lower than the first half, and below previous expectations.
Full-year results for the period to 30 November are expected on 16 February.