Cookson's Fused Silica business drags revenues lower

Materials science company Cookson disappointed investors on Wednesday after experiencing a poor performance in the Fused Silica business and an overall decline in revenues during the first half of the year.

Materials science company Cookson disappointed investors on Wednesday after experiencing a poor performance in the Fused Silica business and an overall decline in revenues during the first half of the year.

Revenue for the period was down 4.0% on an underling basis, from £1,421m to £1,300m, pushing headline pre-tax profit down 3.0% to £127.6m (2011: £132.1m) and basic pre-tax profit down 22% to £93.5m (2011: £119.7m). Year-on-year net debt increased from £428.8m to £450.5m.

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