Business
Interim Results
Interim Results.
About this update from Elementis Plc
[{"type":"text","content":"\n \nRNS Number : 4144K Elementis PLC 30 July 2013 \n \n\n30 July 2013\n \nELEMENTIS plc\n \n \nINTERIM RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2013 \n \nElementis plc (ELM.L) (\"Elementis\", the \"Company\" or the \"Group\"), the FTSE 250 Global Specialty Chemicals Company, announces its results for the six months ended 30 June 2013.\n \nHIGHLIGHTS\n \n· Resilient results compared to record earnings in first half of 2012.\n· Group is benefiting from strong market positions and diverse geographic spread:\no Sales in Specialty Products up 5 per cent.\n· Continuing investment in Specialty Products' growth, including previously announced acquisition of Hi-Mar in North America. \n· Further strong cash generation, operating cash flow up 8 per cent.\n· Interim dividend increased by 5 per cent to 2.57 cents.\n \n \n\n\n\n\nFINANCIAL SUMMARY\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n2013\n\n\n\n\n\n2012 restated*\n\n\n\n\n\n\n\n\n\n\nSales\n\n\n$388.2m\n\n\n\n\n\n$401.3m\n\n\n\n\n\n\n\n\n\n\nOperating profit\n\n\n$72.8m\n\n\n\n\n\n$80.7m\n\n\n\n\n\n\n\n\n\n\nOperating margin\n\n\n18.8%\n\n\n\n\n\n20.1%\n\n\n\n\n\n\n\n\n\n\nProfit before tax\n\n\n$67.5m\n\n\n\n\n\n$75.1m\n\n\n\n\n\n\n\n\n\n\nDiluted earnings per share\nOperating cash flow\n\n\n11.3c\n$48.6m\n\n\n\n\n\n11.5c\n$45.2m\n\n\n\n\n\n\n\n\n\n\nNet (debt)/cash\n\n\n$(8.5)m\n\n\n\n\n\n $29.9m\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nInterim dividend to shareholders\n\n\n2.57c\n\n\n\n\n\n 2.45c\n\n\n\n\n\n\n\n\n\n\nBasic earnings per share\n\n\n 11.5c\n\n\n\n\n\n11.7c\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n*restated following the adoption of revised IAS 19 Employee Benefits standard\n \nCommenting on the results, Group Chief Executive, David Dutro said: \n \n\"Elementis has delivered earnings per share close to last year's record first half performance, despite global growth remaining slow and uneven and the impact of the planned first quarter maintenance shutdown in Chromium. Our resilient performance is a reflection of our strong market positions, val...