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Spread: 1.00 (0.643%)

Market Cap: £889.38m

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Elementis Expects Improved Performance Due To Self-Help Actions

Thu, 31st Oct 2019 09:50

(Alliance News) - Elementis PLC said Thursday it expects self-help actions to result in improved second half performance, broadly in line with expectations.

Chemicals and personal care products firm said "whilst the slowdown in broader macroeconomic conditions continues, self-help actions are anticipated to result in an improved second half performance".

The company said its personal care, coatings and talc divisions were performing in line with expectations due to firm's self-help actions, while performance in the energy division is expected to be weaker than anticipated.

Paul Waterman, chief executive officer, said: "Although there are no signs of improvement in global economic conditions, the fundamentals of our business remain strong. We are confident about our significant medium term innovation, growth and efficiency opportunities."

Elementis shares were down 2.6% in London at 144.80 pence each on Thursday.

By Loreta Juodagalvyte; loretajuodagalvyte@alliancenews.com