24th Apr 2014 13:25
LONDON (Alliance News) - Elementis PLC Thursday said it has started 2014 with good sales momentum across its broad-based growth platform, and it anticipates full-year earnings will be in line with market expectations.
The chemical company said its sales volumes for Specialty Products in the three months ended March 31 were 3% higher than in the same period the previous year.
The company said its specialty products improvements were led by a 49% increase in personal care products sales volumes and a 6% increase in coatings additives sales volumes, which offset a 18% fall in sales volumes from its oilfield products.
Elementis also said that in its Chromium division, sales volumes were 3% lower due to weather issues but operating profit was in line with expectations.
The news comes after the company noted in February that short-term weather issues hurt its North American based coatings, oilfield and chromium businesses in January and February, as snow and unusually cold temperatures disrupted transportation and caused some customers to temporarily close plants.
Elementis shares were down 0.3% to 293.40 pence Thursday.
By Tom McIvor; [email protected]; @TomMcIvor1
Copyright 2014 Alliance News Limited. All Rights Reserved.
Related Shares:
Elementis