Vesuvius plc announces H1 2018 financial results

2018-08-01

Aug. 01, 2018 - Vesuvius plc announced its results for the first half of 2018 on Jul. 26, 2018. Revenue reached £897 million in H1 2018, an increase of 7.9% YoY. Underlying revenue and trading profit were up 12.1% and 20.3%, respectively, in H1 2018. 

Patrick André, Chief Executive of Vesuvius, commented:

“We had a strong H1 2018, delivering our best half year revenue, trading profit and return on sales since we became an independent company in 2012. We continued to outperform underlying markets thanks to the growth in demand for our value-creating solutions, supported by our increasing investment in R&D. We are cautiously optimistic regarding H2 2018 performance as the environment in our key end markets remains positive. This strength in underlying markets and our continuing implementation of self-help measures underpins our confidence that our full year trading profit (EBITA) will be marginally above the current consensus market expectation of c.£189m. Looking beyond 2018, we believe in our ability to deliver further organic improvement in our profit margins as we implement our strategy and deliver on our restructuring programmes.”