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Vesuvius reports drop in revenue

By BFN News | 09:34 AM | Thursday 27 February, 2020


A significant market deterioration led to a £87.6m drop in revenue for Vesuvius in 2019. The company has reported a decline of trading profit, limited to £15.8m for the year ending December 31, 2019, a result of the acceleration of its restructuring efforts. In spite of the lower revenue, the company saw a resilient return on sales at 10.6% during the period. Over the year, Vesuvius made recurring savings of £16.4m and accelerated R&D efforts with the launch of 10 products, which as a percentage of sales increased to 16.3%, from 15.4% in 2018. The full year dividend increased by 3.5% to 20.5p per share. At 9:34am: (LON:VSVS) Vesuvius PLC share price was +17.5p at 428.7p Story provided by StockMarketWire.com

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