Reader interest last week in Vesuvius’ 2018 financial results overcame the prior week’s CCPI acquisition announcement (Vesuvius Announces “Record Performance” in 2018): “Vesuvius plc recently announced its preliminary audited results for the year ended December 31, 2018. Group revenue was approximately £1.8 billion (~ $2.4 billion) in 2018, an increase of 6.8% vs. 2017 on a reported basis. Underlying group revenue, adjusted for the effects of foreign exchange and disposals, increased by 10.7% (volume 4.9%, price 5.8%). Trading profit for the year was £197.2 million (~ $259.3 million), up 19.1% on a reported basis and 24.1% on an underlying basis, compared to 2017.
“‘2018 was a year of record performance for Vesuvius, underpinned by the benefits derived from our self-help restructuring programs and strong commercial performances, combined with a positive orientation in the majority of our steel and foundry end markets,’ said Patrick André, chief executive. ‘Looking forward, we plan to continue growing our revenue and accelerate and intensify efforts to optimize our costs, to support our drive towards further profitable growth. For these reasons, and despite a less favorable market environment, the board is confident that, in comparison to 2018, further progress will be made in 2019.’”
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Top 5 Hottest News Stories for March 10-16
- Vesuvius Announces “Record Performance” in 2018
- Morimura Group Companies to Cooperate on Solid Oxide Fuel Cells
- O-I to Invest $60 Million on Gironcourt Plant Expansion
- Vesuvius Acquires Ohio-Based CCPI #1 last week
- Net Sales Jump 15% for Ferro in 2018
This weekly roundup highlights the ceramic, glass, refractories, brick and related news stories that garnered the most attention during the previous week on our website, as well as our eNewsletters and social media platforms.