Cookson Group PLC, owner of global refractories major Vesuvius, reported its Q1 results on 6 May. Overall turnover at Cookson was £387M, 1% lower than the same quarter in 2004, with increases by the Ceramics and Electronics divisions being offset by a decrease in the Precious Metals division. Profit before tax and exceptional items of £13M was £1.5M lower than Q1 2004. Turnover in the Vesuvius glass sector (excluding that of the European brick business sold in 2004) was up. Steel production, to which approximately 70% of Vesuvius activities are linked, was virtually unchanged in its two largest markets - NAFTA and Europe - but increased by 14% in the fast growing Asia-Pacific region, mainly due to a 24% rise in China. Vesuvius turnover of £175M was 3% higher than in Q1 2004, and was up 6% on a like-for-like basis (with the exclusion of the EU brick business).
