- Progress in emerging markets
- Working capital demands have grown
Judging by a lowly forward rating of seven times forecast earnings, the market is rather more nervous about prospects for Vesuvius (VSVS) than modern Neapolitans. In a trading update, curiously delivered just three days ahead of its half-year figures, the company said that full-year trading profits will come in “towards the top end of the range of current analysts' expectations”.