U.K.’s Low & Bonar 1H in Line with Expectations

London, England, June 4, 2007--Flooring and fabric specialist Low & Bonar said first half trading is in line with company expectations as it continues to grow from acquisitions, according to ShareCast.

Growth at the Technical Textiles Division was boosted by a full first half contribution from both Geo-Tipptex and Colbond, the acquisitions made during 2006, said Low & Bonar.

The company’s Floors Division, "has made encouraging progress despite a higher than expected decline in lower margin third party sourced products sold to the Ministry of Defence," it said in a company statement.

"However the sale of manufactured branded products has increased and this change in sales mix has had a positive effect on the operating margin," it added.

The group also sees increased capacity amongst suppliers reducing raw material prices from 2008.