Vesuvius (LSE:VSVS) reiterated its full-year FY26 guidance in a spring trading statement, saying revenue and Trading Profit for the period 1 January to 30 April were slightly ahead of last year on a constant currency basis and that trading in the second half is expected to be stronger than the first half.
The global molten-metal flow engineering group said its Steel division's volumes were slightly lower than the prior year mainly due to important customer closures in 2025 and temporary supply-chain issues in North America, while Foundry markets remained soft across most regions aside from stronger demand in China and India, and both divisions maintained positive net pricing.
Management said the integration of MMS is progressing well and delivering the expected synergies, and the group remains on track to deliver cost savings of at least £10m in 2026 and cumulatively at least £55m by 2028.
The company reported leverage at the same level as FY25 year-end, said working capital and cash management are improving, and expects leverage to reduce in H2 driven by improving earnings and cash generation.
