9th Nov 2016 07:51
LONDON (Alliance News) - Specialty chemicals firm Synthomer PLC on Wednesday said it remains on track to meet its expectations for 2016 following solid trading in its regional operations in the third quarter.
The FTSE 250 company, which supplies latices and emulsion polymers, said Europe and North America operations were in line with its expectations in the quarter, with gross margins improving across its product lines.
Synthomer's Asia and Rest of World business also has continued to trade in line, with volumes in the quarter lower year-on-year but higher than in the second quarter. While a margin squeeze on its nitrile business in Asia has continued, Synthomer said this downward pricing pressure was not as marked in the third quarter as it had been previously.
The company said its outlook for 2016 is unchanged, as is its outlook for 2017 thanks to a resilient trading environment in Europe and in line trading in Asia.
By Sam Unsted; [email protected]; @SamUAtAlliance
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