Tomkins plc (TKS, TOMK.L) in its interim management statement said it expects the second half of 2009 to be better than the first half of the year.
The company said a number of its businesses continued to see month-on-month improvements throughout the third quarter, with the Automotive Original Equipment market showing some increased activity, driven by government incentives and scrappage programs, low inventory levels and new business launches. Sales to the Industrial Original Equipment market however, remain weak, principally due to limited credit availability, destocking and low end-customer demand.
Moving ahead, Industrial Original Equipment markets in North America are expected to remain flat in the fourth quarter of 2009. European markets are expected to demonstrate a similar trend to the North American markets. The global automotive aftermarket is expected to remain broadly flat.
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