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Prices & Quotes - UK Markets - Synthomer (SYNT)

Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

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

Synthomer profits, revenue fall in 'challenging' markets

By Michele Maatouk

Date: Thursday 05 Mar 2020

LONDON (ShareCast) - (Sharecast News) - Annual profits and revenue fell at Synthomer in what it described as a "challenging" year for the global chemical industry.

In its preliminary results for the year to the end of December 2019, the supplier of aqueous polymers said earnings before interest, tax, depreciation and amortisation fell 1.7% to 177.9m, while underlying operating profit declined 11.5% to 125.8m. Revenue was down 10% to 1.5bn and underlying earnings per share slid to 25.3p from 30.7p in 2018.

Underlying pre-tax profit fell 14% to 116.2m, with depreciation and interest costs up 34% and 37% respectively as a result of the company's recent investment in growth capacity and IFRS 16 leases accounting. IFRS pre-tax profit was down 16.5% to 100.5m.

Synthomer said growth in Functional Solutions, Industrial Specialities and the Performance Elastomers NBR markets helped to offset a shortfall in the Performance Elastomers SBR markets, where European paper was particularly weak.

Chairman Neil Johnson said: "Despite 2019 being a challenging year for the global chemical industry, Synthomer delivered a resilient performance. Whilst Performance Elastomers SBR Latex markets declined driven largely by a difficult European paper sector, Performance Elastomers NBR markets, Functional Solutions and Industrial Specialities all performed in-line with or above 2018 levels.

"In the year ahead, we are not anticipating any change to the economic environment, with industrial end markets remaining challenging and additional uncertainty relating to the potential impact of Coronavirus."

At 1000 GMT, the shares were down 4.5% at 261p.

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

 

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
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

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