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Elementis eyes further cost cuts amid efforts to boost margin growth over medium term

Tue, 19th Nov 2019

Elementis said it would target further cost cuts in an effort to deliver an adjusted operating profit margin of 17% over the medium term. After delivering $10m in cost savings in 2019, the company said it would target a further $15m of cost savings by 2022, driven by further efforts to digitise its business. Elementis would also target operating cash conversion of at least 90% per annum with underlying growth in adjusted operating profit. It was also on track for $30m of working capital savings by 2020, with capex expected to be about $50m a year. At 9:30am: (LON:ELM) Elementis PLC share price was +0.55p at 172.55p Story provided by StockMarketWire.com

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