Charter sees better results
Engineering firm Charter anticipates the outcome for the year to be ahead of its previous expectations due to current trading and the positive impact of foreign exchange translation effects.
The group said its ESAB division has continued to trade well in favourable market conditions. Revenue and operating profit are "well ahead" of the same period last year, helped by favourable foreign exchange translation effects and the impact of the acquisitions made last year
In relation to welding, steel prices have risen along with the prices of other raw materials, but ESAB is recovering these cost increases in the market.
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It said demand for Howden products remains strong with its order book showing further growth beyond the record level reported at the end of February 2008.
The group added that the outlook for Howden's 2008 sales, operating profit and operating margin remains in line with its expectations.
