Full Year 2012 Close Period Trading Update

RNS Number : 5258V

Synthomer PLC

15 January 2013

 

15 January 2013

Synthomer plc

Full Year 2012 Close Period Trading Update

Synthomer plc ("Synthomer" or the "Group") today issues the following update for the year ended 31 December 2012 as it enters its close period.

Trading and profitability have remained in line with the Board's expectations at the time of the third quarter interim management statement on 8 November 2012.

Demand in Europe has remained subdued during the fourth quarter and this continues to be most evident in construction related areas.  In Asia and RoW, the non-nitrile business continues to perform strongly, whilst the nitrile business has performed in line with our expectations as set out in the Group's interim results in August.

Synergies from the acquisition of PolymerLatex remain on track to deliver £19 million in 2012, a £16 million year-on-year improvement over 2011.

The Board's expectations for the full year remain unchanged with underlying profit before tax anticipated to be ahead of 2011 pro-forma of £96 million.

Following the approval by shareholders at the Extraordinary General Meeting the Group has now changed its name to Synthomer plc.

The Group will announce its 2012 full year results on 15 March 2013.

- Ends -

Enquiries:

Synthomer plc	Tel: [phone]
Adrian Whitfield, Chief Executive Officer
David Blackwood, Chief Financial Officer
Pendomer Communications	Tel: [phone]
Charles Armitstead
Rosie Oddy

 

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