Albright issues profits warning

Albright issues profits warning

ALBRIGHT & WILSON, the chemicals company, issued a profits warning following tougher-than-expected competition in the European phosphates market. The company said it would cut more than 50 jobs from its UK operation, which employs 2,000 people. Full-year profits would be hit by a slowdown in the market for surfactants, the strong pound and the Asian crisis, Albright said.