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Elementis quarterly revenue improves in Q4
StockMarketWire.com
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Chemicals company Elementis said it expected to report improved quarterly revenue in the fourth quarter, driven by improved volumes and largely stable pricing.
Overall performance in the quarter the anticipated to be in line with management expectations, helped by tight cost management and supply chain efficiencies, the company said.
For 2020, adjusted operating profit was expected to be $81-to-$83 million.
Looking ahead to 2021, the company said it continued to face temporary demand challenges from Covid-19, particularly in personal care where it expect performance would recover when social and travel restrictions were lifted.
The company said it had made further progress on cutting costs, highlighting $10 million of supply chain cost efficiencies. Its new AP actives plant in India remained on track for mid-2021 start up.
At 9:13am: (LON:ELM) Elementis PLC share price was 0p at 110.5p
Story provided by StockMarketWire.com
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