Trading Statement

Cookson Group PLC
25 April 2002



25 April 2002

FIRST QUARTER TRADING UPDATE

General economic and trading conditions for the Group's major markets in the
first quarter to 31 March 2002 remained broadly in line with those experienced
during the fourth quarter of 2001. Although all three divisions experienced a
slow start to the year, activity levels increased as the quarter progressed.

The signs that the severe downturn in the global electronics industry was
bottoming out, which were noted at the time of the preliminary results
announcement on 26 February, continued through the first quarter. This suggests
that the inventory overhang, which was the major contributor to the downturn,
has largely worked its way through much of the supply chain. The performance of
Cookson's Electronics division during the first quarter has been consistent with
industry trends and, after a slow start to 2002, sales in the quarter of £173
million were 2% lower than the fourth quarter of 2001. The Assembly Materials
sector saw sales in line with the fourth quarter and bookings increasing
steadily in all regions except Europe where, in common with the rest of the
division, conditions remained tough. In the PWB Materials and Chemistry sector,
sales were also in line with those of the fourth quarter. Conditions for the
Equipment sector remained weak and sales were lower than the prior fourth
quarter, although there was a modest improvement in the order backlog by the end
of March 2002.

Conditions began to improve in the Ceramics division's major markets towards the
end of the first quarter. US steel production, although lower than the first
quarter of last year, was well up on the fourth quarter of 2001 and the
introduction of import tariffs by the US government should support this
improving trend in the near-term. Although year-on-year production declined in
some of Europe's biggest steelmaking regions, in many countries an improvement
over the previous two months was recorded in March. Steel volumes in
Asia-Pacific were considerably stronger than last year throughout the quarter.
The division's Iron & Steel sector performed broadly in line with steel
production levels in its major markets. The division's other sectors - Foundry
and Glass - also improved in March following sluggish conditions in the early
part of the quarter. The Ceramics division's sales of £165 million were 7% below
the fourth quarter of 2001, due primarily to the slow start to the year. The
improved mix arising from increased sales in the US, together with the reduced
cost base, resulted in an improvement in the division's profitability.

In the Precious Metals division, activity levels continued to improve gradually
during the first quarter. For the Jewellery sector, volumes increased during
February and March in the USA after a lacklustre January. In the Precision
Products sector, trading conditions during the first quarter remained generally
unchanged from the fourth quarter. The division's sales for the quarter were £98
million, 7% lower than the fourth quarter of 2001 due to normal seasonal
factors.

In summary, Group sales of £436 million for the first quarter were 6% lower than
the fourth quarter due to the slow start to the year in all divisions and normal
seasonal trends. However, the positive effect of the extensive cost cutting
programme initiated last year mitigated the impact of lower sales on Group
profitability such that the unaudited pre-tax result for the first quarter of
2002 was in line with that of the fourth quarter of 2001. The levels of cash
flow and borrowings were as expected and control over working capital and
capital expenditure remained tight.

For the second quarter of 2002, market conditions are expected to continue in
line with those experienced in the latter part of the first quarter. The
benefits of the extensive cost cutting programme initiated last year will
continue to accrue, resulting in a gradual improvement in profitability.
Although the timing of a sustained recovery in the Group's major markets -
particularly electronics - remains uncertain, there is growing belief that there
will be some improvement in the second half of 2002. The Group is well
positioned to take full advantage of this upturn when it occurs.

For further information, please contact:



Stephen L. Howard

Group Chief Executive

Cookson Group plc

Tel:     [phone]

Fax:     [phone]

e-mail: [e-mail]



Dennis H. Millard

Group Finance Director

Cookson Group plc

Tel:     [phone]

Fax:     [phone]

e-mail: [e-mail]



Note: All financial information is unaudited. This announcement contains
forward-looking statements about Cookson. Although the Company believes its
expectations are based on reasonable assumptions, any such statements may be
influenced by factors that could cause actual outcomes and results to be
materially different from those predicted. These forward looking statements are
subject to numerous risks and uncertainties that could cause actual results to
differ materially from those in such statements, certain of which are beyond the
control of Cookson.



Cookson Group plc will host a conference call for analysts at 9:00am UK time on
Thursday 25 April. The call will be broadcast live via the Group's website,
www.cooksongroup.co.uk.



                      This information is provided by RNS
            The company news service from the London Stock Exchange