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Annual Results

Vesuvius improves FY profit in 'encouraging' results

02 March 2017 07:56

Vesuvius has turned in an improved FY pretax profit of £79.4m, from £77.4m, after a resilient performance for the 12-month period.

Revenue was £1.4bn, from £1.3bn. Dividend was 16.55p, from 16.275p.

"We delivered an encouraging set of results in 2016 in challenging market conditions and made important progress towards our strategic and operating objectives, in particular, growth in return on sales as a result of the restructuring programme," said CEO Francois Wanecq.

"Our resilience reflects the strength of our customer relationships, built on our proven ability to offer innovation, reliability and efficiency."

He added that whilst the trading environment remained broadly stable, Vesuvius had seen early signs of improvement in 2017.

"Following our cost improvement efforts, we are well positioned to benefit from any recovery in demand and we will continue to focus on creating value for our customers and shareholders alike.

"We remain confident of making further progress, both in the near and longer term."

Story provided by StockMarketWire.com

Related Company: VSVS

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