We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Synthomer Plc | LSE:SYNT | London | Ordinary Share | GB00BNTVWJ75 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
6.00 | 2.46% | 249.50 | 247.50 | 249.50 | 249.50 | 239.00 | 240.00 | 168,202 | 15:15:26 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Chemicals & Chem Preps, Nec | 2.02B | -67M | -0.4096 | -6.03 | 404.01M |
TIDMSYNT
RNS Number : 6689U
Synthomer PLC
20 January 2017
Official Entity Name: SYNTHOMER PLC
LEI: 213800EHT3TI1KPQQJ56
20 January, 2017
Synthomer plc
Q4 and FY trading update
Synthomer plc ('Synthomer' or 'the Group') today issues a trading update for the year ended 31 December 2016.
Europe and North America
The positive trends experienced in our Europe and North America business during the first three quarters of the year continued through Q4 leading to an overall performance ahead of our original expectations. We saw better than expected results across all business segments and further benefits from the ongoing focus on efficiency, new product initiatives, a strengthened procurement function and investment in business development activities.
Asia and Rest of World
Asia and Rest of World also performed modestly ahead of our expectations in Q4 with the competitive dynamics in our Asian Nitrile business continuing to evolve following the introduction of additional industry capacity in the second half of the year. Full year 2016 volumes and margins for this business are now likely to be sequentially ahead of FY 2015.
Hexion PAC
The integration and trading performance of Hexion PAC continues to progress in line with our expectations. The underlying annual EBITDA and expected synergies remain unchanged from the guidance given to the market in March 2016.
Full Year 2016
Due to the combination of a stronger trading performance in Europe and a slower evolution of the Asian Nitrile dynamics during Q4, we now expect 2016 performance on an underlying constant currency basis to be ahead of the top end of current market expectations.(1)
In addition, the Group will also benefit from the translation effect related to the ongoing weakness of sterling. Average YTD FX rates were EUR1.22 and $1.35, and are expected to provide a translational benefit of approximately GBP12m for the full year.
In reported currency, taking into account both these factors, the Board now anticipates that FY 2016 PBT will be approximately GBP120m.
2017 outlook
Looking forward to 2017, we still expect to see resilient trading in Europe although the raw material and macroeconomic environments remain volatile. We also expect our Asian Nitrile business to be further impacted by the introduction of the additional industry capacity in 2016. This will be partially offset by a full year of Hexion PAC included in the Group's results.
The Group will provide further detail on the outlook for 2017 with its 2016 Full Year results on 6 March 2017.
1. FY 2016 Consensus: Constant Currency Profit before Tax between GBP92.0m - GBP103.9m with consensus at GBP98.3m (Compiled by Teneo Blue Rubicon)
-ENDS-
Enquiries:
Stephen Bennett, Chief Financial Officer +44 1279 775 250 Charles Armitstead, Teneo Blue Rubicon +44 203 603 5220
The Company will hold a conference call for investors and analysts at 0900 BST today.
Please dial +44 (0) 808 237 0030 entering conference ID: 61421287# to gain access to the call.
The Company considers this announcement to contain inside information
This information is provided by RNS
The company news service from the London Stock Exchange
END
TSTFMGMMRLZGNZM
(END) Dow Jones Newswires
January 20, 2017 02:00 ET (07:00 GMT)
1 Year Synthomer Chart |
1 Month Synthomer Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions