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Vesuvius says trading in line; upbeat on FY18

By BFN News | 07:42 AM | Tuesday 14 November, 2017

Vesuvius said its trading profit expectation for the full year remained unchanged, though prospects may brighten next year. In the third quarter, it said global steel production growth had exceeded its expectations, with sales growth continuing to outperform the global steel market. However, the company said it also continued to experience headwinds related to rising raw material prices. "As a result, our trading profit expectation for full year 2017 remains unchanged," it said. Looking ahead, Vesuvius said the growth in steel volumes implies positive prospects for trading profit growth during 2018, when its expects the headwinds of increased raw material cost to have been substantially mitigated. Story provided by

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