Shares in Vesuvius Plc (LSE:VSVS) opened 6% lower on Friday after the engineering group said trading profit for the first four months of 2025 had fallen below last year’s level.
The company, which supplies flow control and engineering solutions to the metals industry, blamed the drop on higher raw material and labour costs.
Revenue for the period was flat compared with the same stretch in 2024.
Weaker industrial activity and muted demand in steel and foundry markets, particularly in Europe, the Middle East and Africa, and in North America, also weighed on performance.
The group said it had struggled to pass rising costs on to customers.
Vesuvius now expects full-year profit to come in slightly below its earlier forecast on a constant currency basis.
The company operates globally, providing specialised products and services to steelmakers and foundries.
In the opening exchanges, the stock fell 20.93p to 353.67p.