By Iain Gilbert
Date: Thursday 14 Jan 2021
LONDON (ShareCast) - (Sharecast News) - Chemicals business Synthomer raised its full-year underlying earnings guidance by around 10% on Thursday thanks to some stronger than expected trading across its three major divisions.
Synthomer said it now anticipates 2020 EBITDA to be approximately £255.0m, ahead of previous guidance of £232.0m, as its performance elastomers, functional solutions and industrial specialities divisions all had a strong finish to the year.
The FTSE 250-listed group also highlighted that it would continue to adapt operations in response to the ongoing Covid-19 pandemic but, at this stage, expects "no meaningful disruption" to business.
Chair Caroline Johnstone said: "In a very challenging year, Synthomer has delivered a strong performance, testament to the strategy that we have been consistently executing and the investments that we have made over the last five years.
"As we embark upon a new year and look further ahead to the future, the business is in a strong position."
Synthomer also revealed that chief executive Calum MacLean will leave the business by January 2022, when a successor is in place.
As of 0925 GMT, Synthomer were up 4.53% at 465.80p.
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Currency | UK Pounds |
Share Price | 292.00p |
Change Today | 4.00p |
% Change | 1.39 % |
52 Week High | 811.74 |
52 Week Low | 122.50 |
Volume | 265,783 |
Shares Issued | 163.57m |
Market Cap | £477.62m |
Value |
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Price Trend |
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Income |
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Growth |
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Latest | Previous | |
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Interim | Final | |
Ex-Div | n/a | 01-Jun-22 |
Paid | n/a | 05-Jul-22 |
Amount | 0.000p | 21.30p |
Time | Volume / Share Price |
11:52 | 8 @ 292.00p |
11:52 | 32 @ 292.00p |
11:49 | 600 @ 292.66p |
11:43 | 400 @ 292.66p |
11:43 | 3 @ 292.00p |
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