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Cookson returns to the black

Engineer and ceramics group Cookson moved back into the black in the first half of the year and said it expects second half profit to exceed the first half.

For the half year ended June 30 Cookson posted a pre-tax profit of £92.5m compared to a loss of £89.7m the year before. Revenue increased to £1.23bn from £929m previously.
Commenting on the group's performance chief executive Nick Salmon said it, "reflects the continued recovery in our end-markets, the benefits of the significant cost reduction programme completed last year and increased market penetration of new, higher margin products."

Cookson said the positive second quarter trading trends have continued through July and given that there is no major deterioration in the economic environment the group expects improved trading in the second half.

Net debt was reduced to £405.1m from £438.2m.

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