Elementis backs FY outlook after in line third quarter
Sharecast
Published Oct 26, 2022 08:47
Elementis backs FY outlook after in line third quarter
In an update for the three months to 30 September, the company said it delivered a "good" performance, with double-digit revenue growth on an underlying basis. This was driven by further strong performances in personal care and coatings, underpinned by "strong" key account relationships and supply resiliency.
The chromium business also performed well in the quarter, Elementis (LON:ELM) said, while the talc business continued to be impacted by weak European markets.
The group hailed strong performances in the Americas, with lower demand in Europe and continuing market weakness in China.
Elementis said its outlook for the full year remains unchanged, with group leverage lower.
"Despite weakening underlying macro-economic conditions creating further headwinds, particularly in Europe, the group's continued focus on innovation and new business opportunities, along with further pricing actions and operating efficiencies, is expected to deliver full year financial performance in line with our expectations," it said.
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