Torday & Carlisle

LONDON (AFX) - Torday & Carlisle came under the cosh as traders reacted to
more than halved first half pretax profits, depressed by losses from Solvitol in
the early months before cost reductions took effect.
The interim dividend is being omitted, but the company expects to recommend
a further hike in the final.
Torday said the long awaited turnaround of Solvitol is becoming a reality
and medium term prospects for further profit growth at E Wood, the specialist
surface coatings operations, are excellent.
Torday shares were 4 pence lower at 79-1/2 by 8.52 am.