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[February 2003]
Cookson Trading Update
In its trading performance update for the fourth quarter of 2002, Cookson Group said that both sales and operating profits for the Ceramics division improved strongly over both those of the preceding quarter and Q4 of 2001.The level of profitability in the fourth quarter - as measured by return on sales - was the highest for two years, highlighting the beneficial impact of the significant restructuring of the division that was carried out over that period.
Generally, global steel production remained at a similar level to that of Q3 2002, other than for the normal holiday seasons closures, while the non-steel operations of the division performed soundly.
For the group as a whole, sales for Q4 2002 were up on both the preceding quarter and Q4 2001 and operating profit improved markedly over the same period. Cookson said that operating profit for the year would be within the range of market expectations.
ENDS