20 Sep 2019 17:30
20 September 2019
Low & Bonar PLC
Trading Update
Low & Bonar PLC (the "Group"), the international performance materials group, today issues the following trading update.
The difficult trading conditions that impacted performance in the first half have continued in the second half to date. As a result, Group sales in the third quarter were lower than expected and profit was also below the Board's expectations.
Whilst the Group is benefiting from slightly lower than expected raw material costs, as well as the impact of cost saving initiatives put in place in recent months, it is not expected that conditions in the Group's markets will improve in the short term and consequently the Board does not expect to recover the shortfall in third quarter trading within the current year.
For further information, please contact:
Low & Bonar PLC | ||
Daniel Dayan | Executive Chairman | 020 7535 3180 |
Ian Ashton | Group CFO | |
Instinctif Partners | 020 7457 2020 | |
Matthew Smallwood | ||
Rosie Driscoll |
Notes:
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation ("MAR") EU no.596/2014. Upon the publication of this announcement via Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain.