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Prices & Quotes - UK Markets - Synthomer (SYNT)

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Share Price:
Up 529.50p
Change Today:
2.50p
Market Cap:
2,249.59m
Sector:
Chemicals

Synthomer sees 'solid' Q1 performance as it leaves outlook unchanged

By Josh White

Date: Thursday 26 Apr 2018

LONDON (ShareCast) - (WebFG News) - Synthomer updated the market on its trading in the first quarter on Thursday, reporting that its Europe and North America segment delivered another solid performance.
The FTSE 250 chemicals company said volumes in the segment were higher in the three months to 31 March than at the same time last year, primarily reflecting the positive impact of the Speciality Additives and Pischelsdorf SBR latex acquisitions.

Unit margins were marginally lower, which the board said was due to the transactional impact of European sales denominated in US dollars.

The Asia and Rest of World segment remained stable, Synthomer said, with performance in line with its own expectations.

Nitrile latex volumes were marginally higher than a weaker comparative period, when customer spending was impacted by the volatile raw material environment.

Unit margins were broadly in line with the first quarter 2017.

"We remain cautiously optimistic on the continued Nitrile latex demand growth and margin development recognising that our 90kt capacity is on track to come on line late in the third quarter," the Synthomer board explained in its statement.

Net debt increased from 180m at the year end to 246m at 31 March.

That reportedly reflected completion of the acquisition of the BASF Austrian SBR business and assets in Pischelsdorf for €29m (25m) in January, as well as seasonal working capital movements which was impacted by a rising raw material price environment, as the company saw in 2017.

"Overall, the group continues to trade in line with the Board's expectations, and accordingly the view for full year 2018 remains unchanged."

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Synthomer Market Data

Currency UK Pounds
Price 529.50p
Change Today 2.50p
52 Week High 552.00p
52 Week Low 287.80p
Volume 853,448
Shares Issued 424.85m
Market Cap 2,249.59m

Performance Indicators

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What The Brokers Say

Strong Buy 10
Buy 0
Neutral 4
Sell 0
Strong Sell 0
Total 14
buy
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Synthomer Dividends

  Latest Previous
  Final Interim
Ex-Div 03-Jun-21 22-Oct-20
Paid 05-Jul-21 10-Nov-20
Amount 8.60p 3.00p

Trades for 30-Jul-2021

Time Volume / Share Price
16:35 132,032 @ 529.50p
16:29 4 @ 526.50p
16:29 152 @ 526.50p
16:29 149 @ 526.50p
16:29 123 @ 526.50p

Synthomer Key Personnel

CEO Calum MacLean
CFO Steve Bennett