Low & Bonar (L&B) said it is on track to “comfortably” beat its financial performance in 2013.
The firm, which makes artificial grass and carpet backings at its Yarns factory at Caldrum Works, Dundee, expects pre-tax profits for the full year to be in line with market expectations of £25.3 million to £26m.
The upbeat outlook came despite the group continuing to suffer from “subdued” demand in its European civil engineering business, an issue the firm first flagged in mid-July.
L&B said sales to the sector were expected to be 7% down on the second half of last year on a like-for-like basis and 2% down for the year as a whole.
