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."

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).