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Prices & Quotes - UK Markets - Synthomer (SYNT)

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Share Price:
Down 519.50p
Change Today:
-15.00p
Market Cap:
2,207.10m
Sector:
Chemicals

Synthomer ups full-year earnings guidance, shares spark

By Abigail Townsend

Date: Wednesday 21 Apr 2021

LONDON (ShareCast) - (Sharecast News) - Synthomer has upped its 2021 earnings guidance following a strong start to 2021, sending shares in the FTSE 250 chemicals specialist higher.
Updating on first-quarter trading, Synthomer said it had seen "strong trading momentum" across all three of its business units.

In particular, its Nitrile Latex division had reported volumes and unit margins "significantly" ahead of the previous year, helped by exceptional demand durin the Covid-19 pandemic, and the overall performance was ahead of internal forecasts.

As a result, Synthomer upped its guidance for full-year earnings.

It noted: "While macroeconomic conditions remain uncertain, given the ongoing Covid-19 pandemic, we are encouraged by a further strengthening of underlying trading conditions and the strong performance across all our divisions during the first quarter.

"Accordingly, the board now expects 2021 earnings before interest, tax, depreciation and amortisation to be in excess of 450m, reflecting a further rise in the one-off profitability of our Nitrile Latex business and the strengthening of the underlying trading conditions."

Synthomer's expectation was that the Nitrile Latex business will return to more normalised levels in 2022 remains unchanged.

As at noon GMT, shares in Synthomer were up 4% at 499.95p.

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 519.50p
Change Today -15.00p
52 Week High 552.00p
52 Week Low 269.40p
Volume 1,238,901
Shares Issued 424.85m
Market Cap 2,207.10m

Performance Indicators

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What The Brokers Say

Strong Buy 9
Buy 1
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 18-Jun-2021

Time Volume / Share Price
16:57 219 @ 519.50p
16:47 635 @ 519.50p
16:46 219 @ 519.50p
16:35 702,670 @ 519.50p
16:29 180 @ 522.00p

Synthomer Key Personnel

CEO Calum MacLean
CFO Steve Bennett