European sales lift Low & Bonar

LOW & Bonar, the fabric and fibres group which has its roots in Dundee, yesterday posted higher first-half profits as robust sales in western Europe and higher selling prices offset rising raw material costs.

The firm, which supplies yarn, fabric and fibre to end-markets like civil engineering, transport and sport, also raised its interim dividend by 40 per cent to 0.7p a share. It said it was upbeat about its progress for the full year. First-half, pre-tax profit was 11.2 million, compared with 7.9m a year ago, while revenues rose 17 per cent to 182.6m.