Thursday, 29th July 2004 (5083 views)

The precious metals division of the Cookson Group has reported positive sales results as demand for gold jewellery has improved in Europe and the US.

Interim figures showed that turnover increased by two per cent to £151 million and operating profit rose by £2.6 million.

According to ic Birmingham, the firm had planned to sell the division based in the area's Jewellery Quarter, but has now dropped plans since it is performing so well.

The firm supplies semi-finished gold and platinum rings and settings to jewellery manufacturers.

Newly appointed chief executive Nick Salmon claimed he expected trading conditions to be similar in the second half, but believed annual profit was likely to increase since the precious metals sector is usually stronger in this period.

Gold products will all be made from the Birmingham site from now on.

 

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