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[July 2003]
Sales Increased for Cookson's Ceramics Division
In its second quarter trading update, Cookson Group reported that for its Ceramics division sales in Q2 2003 were 2% higher than in Q1 2003 and 1% higher than in Q2 2002. Steel production in the division's major markets - Europe and the USA - was up some 2% and 5% respectively for the five months to May 2003 over that same period last year, though the rate of growth slowed in the second quarter in the USA.
Unlike the Electronics division, only a relatively small amount of the Ceramic division's sales are made in those parts of the Asia-Pacific region where SARS was prevalent and the adverse impact was only felt in its operation in China, where sales growth slowed in the second quarter.
Total Cookson Group operating profit for continuing operations and pre-tax profit for the first half of 2003 are expected to be well above the first half of 2002.
ENDS