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Hanson asbestos pay covered by insurance

FINANCE

BUILDING materials giant Hanson paid just £2.6 million in compensation last year to asbestos victims in the US, where trading remains tough.

Insurance paid for £20.5 million of the £23.1 million of successful claims brought against Hanson last year.

Chief executive Alan Murray said: 'Market conditions in north America are likely to remain difficult but the UK and Australia should provide some protection.' Pre-tax profits slid to £273.7 million in 2002 from £351 million as turnover crumbled £174.8 million to £3.7 billion.