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Synthomer keeps guidance intact after US, Europe margins improve

Tuesday, 6th November 2018
Chemicals group Synthomer said its expectations for the full year remained unchanged after third-quarter volumes in the US and Europe fell but margins improved.

The company also announced a restructure, effective 1 January, that would see it create three business units: performance elastomers, functional solutions and specialities.

In the three months through September, volumes in Europe and North America were slightly lower on-year, excluding volumes associated with the recently-acquired Pischelsdorf business.

Unit margins, however, were slightly higher, with all segments apart from paper rising, reflecting further investment and increased efficiencies.

In Asia and the rest of the world, the company said nitrile latex volumes were slightly ahead of a strong comparative period.

Unit margins were also higher and in line with unit margins in the first half of 2018.

'Synthomer's product and geographic diversity means that we are well positioned to withstand the challenging macroeconomic and political environment and, along with the good performance in the first nine months of the year, the board's expectations for full year 2018 remain unchanged,' the company said.




Story provided by StockMarketWire.com

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