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By
Reuters
Published
May 24, 2010
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Elementis sees full year earnings ahead of own view

By
Reuters
Published
May 24, 2010

May 24 (Reuters) - British chemicals maker Elementis Plc (ELM.L) said it expected earnings for the full year to be well ahead of its view on robust demand.



The firm, which makes chemicals to enhance the texture of paints and cosmetics, and chromium products for coating metals and tan leather, also forecast first-half trading profit and revenue to be ahead of the second half of 2009.

However, it expects earnings for the second half to be lower than the first half on a potential softening in demand later in the year.

Elementis estimates first-half trading profit of $43 million to $45 million, up 54 percent to 61 percent from the second half of 2009.

It expects first-half revenue to rise by 12 percent to 14 percent from the second half of 2009.

Shares of Elementis closed at 60 pence on Friday 21 May on the London Stock Exchange. (Reporting by Juhi Arora in Bangalore; Editing by Vinu Pilakkott)

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