Cookson Group plc has released its Interim Management Statement regarding current trading, financial position and outlook. The statement covers the period from January 1-May 11, 2011. Over the first four months of 2011, the group reports it has recorded significant revenue growth, reflecting strong end-market demand combined with significant commodity price rises for tin, silver, and gold in the Electronics and Precious Metals divisions. The progressive improvement in the group’s return on sales margin seen last year has continued, and trading profit in the first four months of 2011 has been in line with previous expectations.
For the full year 2011, the company continues to expect mid-single-digit growth in global steel production, slightly higher growth in electronic equipment production, and double-digit growth rates in the foundry castings and fused silica end markets. The significant cost reduction measures implemented in the first half of 2009; the continuing market penetration of new, higher margin products; and the production capacity expansion projects completed in 2010 and currently under way mean that the group is reportedly well-positioned to benefit from these positive end-market growth trends.
Accordingly, the company expects that 2011 performance at both the half and full year will be ahead of the equivalent periods in 2010.
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