UPDATE 1-Low & Bonar says H2 sales remain below last year
* Says H2 sales improvement in line with expectations
* Says cost cuts, lower raw material prices cushion impact
(Adds details)
Oct 19 (Reuters) - Specialist materials group Low & Bonar Plc (LWB.L) said on Monday it had maintained the improvement in sales levels in the second half in line with its expectations but the sales remained significantly below last year.
However, cost reduction actions undertaken early in the year and lower raw material prices continued to mitigate the impact of lower volumes on profits, it added.
Low & Bonar -- a supplier of yarn, fabric and fibre to end markets like civil engineering, transport, sport and leisure -- also said it continued to expect that second half profit and net debt would be materially improved over the first half and would remain in line with its expectations.
Shares of the company closed at 36 pence on Friday on the London Stock Exchange. (Reporting by Ramkumar in Bangalore; Editing by Maju Samuel) (ram.kumar@thomsonreuters.com +91 80 41355800; Reuters Messaging: ram.kumar.thomsonreuters.com@reuters.net))
