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Share Price:
Up 149.40p
Change Today:
0.70p
Market Cap:
869.04m
Sector:
Chemicals

Elementis cautious given 'highly uncertain' outlook

By Iain Gilbert

Date: Wednesday 29 Apr 2020

LONDON (ShareCast) - (Sharecast News) - Chemicals business Elementis said on Wednesday that first-quarter trading had been in line with expectations, with year-on-year operating profit growth, but warned that it was cautious of a 'highly uncertain' global economic outlook.
Elementis credited growth to the performance of its global supply chain, which it said "operated well" with no raw material shortages or plant shutdowns during the period - except for the temporary closure of two sites in China during February.

The FTSE 250-listed group, which suspended its 2019 final dividend in late March, said it had also ceased all discretionary spending, reduced manufacturing costs based on lower demand and identified additional working capital reductions to help it cut costs during the pandemic.

Looking ahead, Elementis noted that although first-quarter trading was in line with expectations, the group acknowledged that the "highly uncertain" macro-economic and end-market outlook had led to an approximate 15% year-on-year decline in April revenues.

"Given the uncertain environment no specific guidance is provided for the remainder of the year, although we will update as and when visibility improves," said the firm.

As of 0855 BST, Elementis shares were up 2.71% at 72.15p.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

Elementis Market Data

Currency UK Pounds
Price 149.40p
Change Today 0.70p
52 Week High 161.70p
52 Week Low 61.75p
Volume 299,571
Shares Issued 581.69m
Market Cap 869.04m

Performance Indicators

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What The Brokers Say

Strong Buy 5
Buy 1
Neutral 3
Sell 1
Strong Sell 1
Total 11
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Elementis Dividends

  Latest Previous
  Final Interim
Ex-Div n/a 05-Sep-19
Paid n/a 27-Sep-19
Amount 0.000¢ 2.80¢

Trades for 22-Jun-2021

Time Volume / Share Price
15:37 200 @ 149.43p
15:30 6 @ 149.40p
15:30 38 @ 149.50p
15:30 348 @ 149.50p
15:28 816 @ 149.40p

Elementis Key Personnel

Chair Andrew Duff
CEO Paul Waterman