Advertisement
UK markets closed
  • NIKKEI 225

    38,274.05
    -131.61 (-0.34%)
     
  • HANG SENG

    17,763.03
    +16.12 (+0.09%)
     
  • CRUDE OIL

    79.13
    +0.13 (+0.16%)
     
  • GOLD FUTURES

    2,330.20
    +27.30 (+1.19%)
     
  • DOW

    37,903.29
    +87.37 (+0.23%)
     
  • Bitcoin GBP

    46,194.86
    -1,834.80 (-3.82%)
     
  • CMC Crypto 200

    1,202.07
    -136.99 (-10.23%)
     
  • NASDAQ Composite

    15,605.48
    -52.34 (-0.33%)
     
  • UK FTSE All Share

    4,418.60
    -11.65 (-0.26%)
     

BUZZ-Vesuvius: Robust FY results drive shares up

** Shares (Berlin: DI6.BE - news) in Vesuvius Plc (LSE: VSVS.L - news) rise as much as 6 percent, climbing to a 13-month high after the company posted an underlying trading profit of 11.6 percent

** The maker of ceramic moulds and lining for steel makers and foundries says progressing with plan to improve operational efficiency, which should drive further improvement in trading margins during 2015

** Full-year underlying group revenue up 3.5 percent to 1.4 billion pounds ($2.15 billion)

** Vesuvius to pay final dividend of 11.12 pence, which would result in full-year dividend of 16.12 pence, higher than 15 pence in 2013

ADVERTISEMENT

** Morgan Stanley (Xetra: 885836 - news) analysts say the company continued to show operational improvements, with margins up 60bp year-on-year, inline with estimates

** "Revenues grew faster than steel production in EMEA and South America, but management guidance for a similar trading environment indicates that the markets will remain difficult in 2015," Morgan Stanley analysts say in a note to clients

($1 = 0.6509 pounds) (aashika.jain.thomsonreuters.com@reuters.net)