Synthomer (SYNT)

Sector:

Industrial Chemicals

Index:

FTSE Small Cap

180.00p
   
  • Change Today:
      7.20p
  • 52 Week High: 334.00p
  • 52 Week Low: 122.50p
  • Currency: UK Pounds
  • Shares Issued: 163.57m
  • Volume: 560,397
  • Market Cap: £294.42m

Synthomer first-quarter trading in line

By Michele Maatouk

Date: Thursday 09 May 2024

LONDON (ShareCast) - (Sharecast News) - Chemicals company Synthomer said on Thursday that first-quarter trading was in line with its expectations at the start of the year and that it continues to expect to make some earnings progress in 2024.
In an update ahead of its annual general meeting, the company said continuing group volumes were at their highest levels since the second quarter of 2022.

It said that while this partly reflects some short-term customer restocking - and there is still no evidence of a sustained improvement in underlying end-market demand - it is seeing improving activity levels in some of the segments that were previously more challenged.

First-quarter continuing group earnings before interest, tax, depreciation and amortisation were higher than the same period a year earlier, underpinned by continued robust pricing, particularly in the speciality businesses, ongoing cost reduction activities and lower energy costs.

However, group revenue was lower due to lower raw materials prices.

The company said it continues to expect to make some earnings progress and be free cash flow positive this year, even if macroeconomic demand conditions do not improve.

Chief executive Michael Willome said: "We are cautiously encouraged by trading since the start of the year: while there are signs of improvement in some of our end markets, visibility of a sustained recovery remains elusive at this stage.

"We therefore continue to strengthen Synthomer's position for the future, by delivering our specialisation strategy, optimising our portfolio and cost position, and demonstrating the cash generative nature of our business."



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Synthomer Market Data

Currency UK Pounds
Share Price 180.00p
Change Today 7.20p
% Change 4.17 %
52 Week High 334.00p
52 Week Low 122.50p
Volume 560,397
Shares Issued 163.57m
Market Cap £294.42m

Synthomer Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
63.99% above the market average63.99% above the market average63.99% above the market average63.99% above the market average63.99% above the market average
46.67% above the sector average46.67% above the sector average46.67% above the sector average46.67% above the sector average46.67% above the sector average
Price Trend
69.68% below the market average69.68% below the market average69.68% below the market average69.68% below the market average69.68% below the market average
6.67% below the sector average6.67% below the sector average6.67% below the sector average6.67% below the sector average6.67% below the sector average
Income Not Available
Growth
12.71% below the market average12.71% below the market average12.71% below the market average12.71% below the market average12.71% below the market average
33.33% below the sector average33.33% below the sector average33.33% below the sector average33.33% below the sector average33.33% below the sector average

Synthomer Dividends

  Latest Previous
  Interim Final
Ex-Div n/a 01-Jun-22
Paid n/a 05-Jul-22
Amount 0.000p 21.30p

Trades for 31-Oct-2024

Time Volume / Share Price
16:35 69,765 @ 180.00p
16:35 1,935 @ 180.00p
16:35 2,074 @ 180.00p
16:35 441 @ 180.00p
16:35 470 @ 180.00p

Synthomer Key Personnel

CFO Lily Liu

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