Vesuvius FY profits down 40.4%, warns of bearish impact of coronavirus
Published: Friday, 28 February 2020
Vesuvius attributed a 4.9% drop in its 2019 revenues to £1.71 billion ($2.1 billion) and a 40.4% slump in profits to weak steel and foundry end-markets.
By Dalila Ouerghi
The UK-based refractory and foundry manufacturer expects
challenging market conditions for steel and foundry end markets
to continue for the rest of the first quarter of 2020 and to
have an impact on the company’s performance