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Cookson flags downturn in electronics

Created:
6 October 2008
Updated:
22 October 2008
Written by:
Julian Hofmann

Shares in Cookson fell 5 per after an update indicated that performance in the company's troublesome electronics division would be below expectations for the third quarter.

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Cookson said that, although it is not immune to uncertainty in the financial markets, overall underlying trading improved. The company is due to release a full trading statement on 11 November.

SHARE TIP UPDATE

GoodValue

Cookson is hinting at problems for the full year and next month's trading statement may give pause for thought - the company is exposed to industries including car-making, consumer electronics and construction, which are taking the brunt of the downturn. We downgrade to good value at 435p.

Last IC View: Buy, 618p, 08 Aug 2008.

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