Elementis PLC - London-based speciality chemicals firm - Says performance in the fourth quarter of 2023 is strong compared to a "weak" final quarter in 2022. As a result, expects adjusted operating profit for 2023 to be in the range of USD102 million to USD104 million. For 2022, Elementis reported adjusted operating profit of USD101 million. Net debt at December 31 is anticipated to be about USD201 million, down from USD367 million. Looking ahead, Elementis says it remains committed to delivering on its financial targets, which include an operating margin of above 19%, by 2026.
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By Sabrina Penty, Alliance News reporter
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Elementis (ELM)