Q1 profits rise 44% at Luxfer

The company, which postponed its proposed flotation on Wall Street in December due to volatile market conditions, also saw sales increased 20% to £88.9m, for the first three months of 2012.Net debt stood at £66.3m (31 March 2011: £75.1m).

 

Luxfer is a materials technology company that specialises in the design and manufacture of high-performance materials, components and gas cylinders supplied for environmental, healthcare and protection applications.

 

It said that trading conditions remain positive, adding that initial performance was slightly above expectations.

 

Brian Purves, chief executive, of Luxfer Holdings, said: “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.”