Vesuvius sees 2026 trading profit ahead of prior year

27th Jul 2026 07:45

(Sharecast News) - Vesuvius tumbled on Monday after the molten metal flow engineer downgraded its outlook for the year.

In a brief trading statement, the company said trading profit for the first half is expected to be around £74m. Vesuvius said that since its update in May, it has continued to be affected by operational issues in the steel division.

Additionally, Advanced Refractories is experiencing a "challenging" trading environment, it said, particularly in Europe.

"The operational issues, whilst temporary, are causing a greater impact than previously anticipated," Vesuvius said. "They are being addressed and are expected to be resolved by the end of the year.

"Accordingly, we now expect full-year trading profit to be slightly ahead of trading profit for FY25 on a constant currency basis."

At 1035 BST, the shares were down 10% at 406.60p.

Jefferies, which has a 'buy' rating and 520p price target on the stock, said trading profit slightly ahead of last year at constant FX would imply a low double digit cut to FY26 consensus.

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