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Elementis confident of further progress in 2018 after 'solid' Q3

Thursday, 25th October 2018
Chemicals company Elementis said Thursday it was confident of making further financial and strategic progress for the rest of the year after reporting solid performance in the third quarter.

The company's personal care segment reported solid performance for the quarter, driven by growth in sales to direct customers of hectorite-based products and the delivery of SummitReheis synergies.

The transformation in the company's coatings segment continued to gather pace as the product portfolio was optimised and prices were increased, though performance in Asia during the quarter was impacted by weaker volumes and currency headwinds, primarily in China, as a result of an economic slowdown.

Hurricane Florence and the flooding that followed halted production at Castle Hayne. This was expected to impact chromium full year operating performance.

'Overall performance in the third quarter has been solid. We continue to implement our Reignite Growth strategy, focusing resources on higher margin growth opportunities, high grading our business portfolio and driving both cost and capital efficiency. In addition we are excited to begin the integration of Mondo Minerals at pace,' said CEO, Paul Waterman.




Story provided by StockMarketWire.com

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