Cookson Group plc (CKSN.L) in its interim management statement covering the period from 1 July 2009 to 9 November 2009 said trading profit improved markedly in the third quarter reflecting the strong profit drop-through from the additional revenue and the incremental cost-reduction programme savings.
Group revenue of £498 million in the third quarter was 9% higher than the prior quarter at constant exchange rates, although still 26% below the equivalent quarter in 2008. These improving overall end-market and trading performance trends have continued into the fourth quarter, although the company anticipates the normal reduction in activity in December due to some customer production shutdowns.
Moving ahead, the Board now expects trading profit for full year 2009 to be around the upper end of current analysts' forecasts.
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