Luxfer Group Limited
Q1 2012 Interim Management Statement
17 July 2012
Salford, England: 8 May 2012
“Luxfer has made an excellent start to 2012 with both sales and profits exceeding the guidance that we gave in December 2011 for Q1 2012. All parts of the Group continue to contribute to a high level, the growth in the Gas Cylinders sales and the margin improvement being especially pleasing. Despite the backdrop of macro-economic uncertainty, we expect 2012 to be a year of good progress for Luxfer. In particular, our range of industrial catalysts, based on environmentally-friendly zirconium technologies, is on track for a record year.” Brian Purves, Chief Executive, Luxfer Holdings PLC.
Trading conditions for Luxfer remain positive, and our initial performance is slightly above our expectations at the time we announced 2011 full-year results on 9 March 2012. First-quarter trading was as follows:
Luxfer continued to make good progress in the first quarter of 2012. Compared to the equivalent period of 2011, Group revenues were up 19.8% on a reported basis and up 13.1% on an organic basis after adjusting for rare earth surcharges and exchange rate movements.
The increase in sales and a favorable product sales mix, coupled with strong results from our European operations, resulted in net trading profit increasing to £11.5 million in the first quarter of 2012 from £8.8 million in the equivalent period of 2011, a 30.7% improvement. The Q1 2012 trading margin was 12.9% compared to 11.9% in Q1 2011.
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