Vesuvius Plc (VSVS.L) Wednesday reported lower profit in the first half of 2025, impacted by weak performance in the Steel markets. Revenue fell 3 percent from a year ago due to ongoing negative market conditions. Additionally, the company announced an interim dividend for the period, which is flat from last year.
On the LSE, the stock is up 3 percent on Wednesday's trading at 363.60 pence.
The company, which offers molten metal flow engineering and technology services, posted profit of 37.5 million pounds or 12.3 pence per share in the first half of the year, down from 55.4 million pounds or 17.9 pence per share in the same period last year.
On an adjusted basis, headline profit was 49.1 million pounds or 17.0 pence per share during the period, compared to 65.3 million pounds or 21.6 pence per share in the prior-year period.
Pre-tax profit for the half-year period declined to 56.0 million pounds from 76.7 million pounds recorded in the first half a year ago. Headline pre-tax profit was 67.5 million pounds, compared to 89.8 million pounds in the first half of last year.
During the six month period, revenue fell 3 percent to 907.5 million pounds from 936.5 million pounds in the same period a year ago. The company's trading profit or adjusted EBITA was 77.0 million pounds in the half-year period, down 21 percent from 97.2 million pounds in the previous-year period.
The company said that its Board declared an interim dividend of 7.1 pence per share for the first half of the year, similar to last year. The interim dividend will be paid on September 19 to shareholders on the register at the close of business on August 15. The ex-dividend date will be August 14.
Looking ahead, Vesuvius Plc expects the performance in the second half of the year to be similar to the first half of 2025.
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