LONDON – Despite a lackluster fourth quarter, the Cookson Group reported its 2008 revenue climbed 23% to ₤2.203 billion ($3.04 billion).

The company, the parent of Alpha Metals and Enthone, reported trading profits up 11% to ₤216.3 million ($298.3 million), and pre-tax profits climbed 18% to ₤176.3 million ($243.1 million).

The electronics division saw a year-over-year revenue increase of 11% to ₤620 million ($854.9 million) at reported exchange rates.

For the year, assembly materials sales fell 10% to ₤382 million (US$526.8 million) on an increase in metal prices, especially tin and silver. Chemistry sales dropped 9% to ₤238 million (US$328.2 million) on the sharp decline in the electronics and automotive markets.

Nevertheless, the fourth-quarter slide has continued into the first quarter, and Cookson plans to reduce its overhead by $55.2 million.