Low & Bonar sees sales growth

Specialist materials group Low & Bonar yesterday forecast full-year pre-tax profit to be at the upper end of consensus on improved sales across the board, sending its shares up eight per cent. The firm, which supplies yarn, fabric and fibre to end-markets like civil engineering and transport, forecast 2010 sales growth of over 10 per cent on increased exposure to high-growth markets. The company, which is restructuring its loss-making technical yarns business, said it expected to close its Ostend facility by June 2011.