- Materials group Low & Bonar warned on performance as ongoing headwinds including US manufacturing inefficiencies and increased raw material costs continued to keep a lid on growth.

The company expected reported revenue for the year to 30 November 2019 to be £317m, underlying EBITDA to be approximately £18m and underlying pre-tax profitability to be approximately break-even as conditions affecting the Group's trading remained largely unchanged.

The company said it continued to await a decision from regulators to approve its acquisition of FV-Beteiligungs-GmbH.

'The European Commission has confirmed that the transaction will be reviewed at the European level and this review is ongoing in the normal course,' Low & Bonar said. 'The competition approval required in Russia has been received,' it added.

At 8:59am: [LON:LWB] Low Bonar PLC share price was -0.4p at 12.45p

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