4th Apr 2008 13:28
Cookson Group PLC04 April 2008 4 April 2008 Results for Foseco plc - year to 31 December 2007 Further to the announcement earlier today that the acquisition of Foseco plc ("Foseco") by Cookson Group plc ("Cookson") had become effective, Cooksonannounces that the consolidated financial statements of Foseco for the yearended 31 December 2007 were today approved by the Board of Foseco. Thesefinancial statements will be filed immediately at Companies House and should beavailable for public inspection shortly. They will also be available on theFoseco website (www.foseco.com) from mid-afternoon today. Highlights of those results are as follows: • Strong improvement in Group operations1: • Revenue of £431.3 million, up 8%2 • Trading profit of £50.3 million, up 11%2,3 • Return on sales up 0.4 percentage point to 11.7%2 • Profit before tax of £44.4 million, up 10% • Effective tax rate down 1.4 percentage points to 37.2% • Headline earnings per share of 16.2 pence, up 14% • Very strong performance in Foundry division (81% of Group revenue)1: • Revenue of £349.7 million, up 9%2 • Trading profit of £54.7 million, up 17%2 • Return on sales up one percentage point to 15.6%2 • As previously announced, short-term uncertainty following the announcement of the proposed acquisition by Cookson impacted the Steel division's results (19% of Group revenue, including the CBC business to be sold)1: • Revenue of £81.6 million, up 2%2 • Trading profit of £0.5 million (versus £3.0 million in 2006) 1 Before exceptional items (post tax) of £9.0 million principally relating to professional fees and other costs relating to the acquisition of Foseco by Cookson. 2 At constant currency. 3 Group trading profit reflects the results of the Foundry and Steel divisions less corporate costs of £4.9 million. - Ends - For further information please contact: Shareholder/Analyst Enquiries Cookson Group plc Mike Butterworth, Group Finance Director Tel: +44 (0)20 7822 0000 Anna Hartropp, Investor Relations Manager Media Enquiries Hogarth Partnership Ltd John Olsen Tel: +44 (0)20 7357 9477 Anthony Arthur This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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