16th Jan 2015 07:29
LONDON (Alliance News) - FTSE 250-listed chemicals company Synthomer PLC on Friday said its full year trading has been in line with its expectations, with demand in the last two months of 2014 falling in line with its forecasts.
Synthomer said its trading and profitability for the year to December 31 was in line with its expectations. It expects full-year pre-tax profit to be in the middle of consensus estimates. According to the company, the consensus range is currently between GBP80.9 million and GBP87.3 million.
It said demand in November and December, as had been anticipated, was weaker year-on-year in Europe owing to an earlier year-end slowdown to trading than is normal. Unit margins improved over the two months as raw material prices fell, Synthomer said.
In Asia, unit margins continued to improve, with stronger demand in the fourth quarter on the back of new product launches.
By Sam Unsted; [email protected]; @SamUAtAlliance
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