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Elementis performance in Q3 in line with its expectations amid ongoing pandemic impact
StockMarketWire.com
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Chemicals company Elementis said performance in the third quarter was in line with management expectations, with volumes down approximately 13% on the prior year, owing to the impact of the pandemic.
Its coatings business produced revenue broadly in line with the prior-year period, and operating margins expected to improve versus the prior year.
Personal care sales were materially lower than both the prior year period and Q2, owing to the continuation of social and travel restrictions as a result of COVID-19.
For 2021, Elementis said its new business and innovation pipelines were encouraging, and it had made good progress underpinning $10m of supply chain cost efficiencies.
'Whilst market conditions remain challenging and future visibility is limited, we have seen solid demand in October and have a robust order book for November,' the company said.
At 9:12am: (LON:ELM) Elementis PLC share price was -1.45p at 77p
Story provided by StockMarketWire.com
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