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Cookson shares dive after profit warning

Shares in Cookson Plc took a dive on 29 June after the British specialist industrial materials group said its first-half profits would be around 30 million, which compares to 92 million last year.

Shares in Cookson Plc took a dive on 29 June after the British specialist industrial materials group said its first-half profits would be around 30 million, which compares to 92 million last year. The shares were marked down 12.4% or 16.5p at 117p in pre-market trade. The company said the shortfall was due to the continuing tough conditions in its major markets, in particular in the electronics division where sales would be 25% lower than the comparative period last year. It added the continued fall in steel production in the US had resulted in a marked fall in profitability in the steel-related activities of its ceramics division.

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