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.
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Enquiries:
Synthomer plc |
Tel: 01279 442 791 |
Adrian Whitfield, Chief Executive Officer |
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David Blackwood, Chief Financial Officer |
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Pendomer Communications |
Tel: 020 3603 5224 |
Charles Armitstead |
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Rosie Oddy |
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