Low & Bonar H2 sales improve

19th Oct 2009 08:58

Industrial fabric maker Low & Bonar said the improvement in sales levels in the second half of this year has been maintained in line with company expectations although they remain significantly below last year. "Decisive cost reduction actions undertaken early in the year and lower raw material prices continue to mitigate broadly the impact of lower volumes on profits," the group said in a company statement. Low & Bonar added, "We continue to expect that, with our normal seasonal trends, second half profits and net debt will be materially improved compared to the first half and remain in line with our expectations."