Previously listed as Yule Catto under the ticker YULC, changes it's name to Synthomer which is considered to be a more recognisable corporate name globally.

"Synthomer is one of the world’s major suppliers of latices and speciality emulsion polymers supporting leadership positions in many market segments including coatings, construction, textiles, paper and synthetic latex gloves. The company has its headquarters in Harlow, UK and provides customer focused services from operational centres in Marl, Germany and Kuala Lumpur, Malaysia."

Barclays Capital today reaffirms its overweight investment rating on Synthomer (LON:SYNT) and raised its price target to 580p (from 560p).

StockMarketWire.com
Synthomer, the chemicals business, is trading in line with its expectations after a solid performance from its Europe and North America segment in the first quarter ended 31 March 2018.

In Europe and North America, volumes were higher than the comparative period predominantly reflecting the positive impact of the Speciality Additives and Pischelsdorf SBR latex acquisitions.

Unit margins were marginally lower mainly due to the transactional impact of European sales denominated in US dollars.

The Asia and Rest of World segment remained stable with performance in line with 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 Q1 2017.

Synthomer said it remains cautiously optimistic on the continued Nitrile latex demand growth and margin development.

Net debt increased from £180m at the year end to £246m at 31 March 2018. This reflected the completion of the acquisition of the BASF Austrian SBR business and assets in Pischelsdorf for €29m (£25m) in January and seasonal working capital movements which was impacted by a rising raw material price environment.

Peel Hunt today reaffirms its buy investment rating on Synthomer (LON:SYNT) and raised its price target to 670p (from 550p).

StockMarketWire.com
Polymer producer Synthomer said it was being investigated by the European Commission in relation to its purchase of the chemical styrene monomer.

The investigation involved a number of companies operating in the European Economic Area.

The Commission visited Synthomer's London office this week as part of the investigation.

'The company takes competition laws very seriously and will continue to fully cooperate with the Commission throughout its investigation,' Synthomer said

Deutsche Bank today reaffirms its buy investment rating on Synthomer (LON:SYNT) and raised its price target to 630p (from 565p).

StockMarketWire.com
Chemicals group Synthomer said it had refinanced its existing bank facilities via an offering of €300m worth of seven-year unsecured senior notes and a new €300m four-year revolving credit facility.

The proceeds would be used, together with cash on hand, to repay all amounts outstanding under the company's existing revolving credit facility and term loan.

The proposed refinancing would provide more financial flexibility and, in relation to the notes, an 'attractive' fixed-rate interest rate over the next seven years.

'The group's strategy for further continued profitable growth is expected to be supported with this efficient capital structure, Synthomer said.

StockMarketWire.com
Plastics supplier Synthomer posted a 6.4% rise in first-half profit after growth in sales volumes offset a slight reduction in margins.

Pre-tax profit for the six months through June rose to £76.2m, was revenue rose 8.2% to £833.8m.

On a constant currency basis, pre-tax profit and revenue rose 4.3% and 6.4%, respectively.

The company increased its interim dividend to 4.0p per share, up from 3.7p on-year.

'Synthomer has had a good first six months of the year, reporting a further increase in underlying profit, underpinned by our geographic and product diversity alongside the group's strategy of driving organic growth and investing in bolt-on acquisitions,' chairman Neil Johnson said.

'Notwithstanding ongoing political and economic uncertainty, the group's diversified business means we are well placed to make continued progress and the board's expectations for the full year remain unchanged.'

In the first half, the company said it notched good volume growth in Europe and North America, though unit margins were slightly softer due to a US dollar transaction headwind of around £5m.

Total volumes rose 9.1% to 796.6k tonnes.

Deutsche Bank today reaffirms its buy investment rating on Synthomer (LON:SYNT) and raised its price target to 640p (from 630p).

StockMarketWire.com
Chemicals group Synthomer said its expectations for the full year remained unchanged after third-quarter volumes in the US and Europe fell but margins improved.

The company also announced a restructure, effective 1 January, that would see it create three business units: performance elastomers, functional solutions and specialities.

In the three months through September, volumes in Europe and North America were slightly lower on-year, excluding volumes associated with the recently-acquired Pischelsdorf business.

Unit margins, however, were slightly higher, with all segments apart from paper rising, reflecting further investment and increased efficiencies.

In Asia and the rest of the world, the company said nitrile latex volumes were slightly ahead of a strong comparative period.

Unit margins were also higher and in line with unit margins in the first half of 2018.

'Synthomer's product and geographic diversity means that we are well positioned to withstand the challenging macroeconomic and political environment and, along with the good performance in the first nine months of the year, the board's expectations for full year 2018 remain unchanged,' the company said.

Deutsche Bank today reaffirms its buy investment rating on Synthomer (LON:SYNT) and cut its price target to 500p (from 645p).