Business
Pre-close Trading Update
Pre-close Trading Update.
About this update from Synthomer Plc
[{"type":"text","content":"\n RNS Number : 1145O Yule Catto & Co PLC 24 June 2010 \n \n\n24 June 2010\n \n \nYule Catto & Co plc \n \nPre-close Trading Update\n \n \n \nYule Catto & Co plc (\"Yule Catto\" or the \"Group\"), the international producer of speciality chemicals, today issues a trading update in advance of entering its close period.\n \nThe Board expects underlying profit before tax for the first half of 2010 to be substantially ahead of last year.\n \nPolymer Chemicals is the Group's main business, accounting for 88% of divisional operating profit in 2009 with 50% of its revenue in Asia and emerging markets. The business has continued to enjoy good volumes through the second quarter. Monomer prices continued to rise through the quarter and the business has continued to seek to recover these increases in the market place with good success. Overall, this is expected to produce a first half operating profit for Polymers well ahead of the prior year.\n \nPharma Chemicals has seen good demand during the first half year, but the business mix generated lower margins which will result in the first six months operating profit being below last year's level. The division currently has a very strong order book, and should see an improved product mix in the second half.\n \nWilliam Blythe, the Group's only remaining Impact Chemicals business, has seen improved volumes, and as expected is trading strongly ahead of the prior year.\n \nThe Group received £11m from the sale of Finewaters, its downstream adhesives business in June, and net debt at the half year will be below the opening position of £88m.\n \nYule Catto expects to announce its 2009 half year results on 27 August 2009.\n \n \nENQUIRIES:\n \n\n\n\n\nYule Catto & Co plc\n\n\nTel: 01279 442791\n\n\n\n\nAdrian Whitfield, Chief Executive \n\n\n\n\n\n\n\nDavid Blackwood, Finance Director \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nHogarth \n\n\nTel: 020 7357 9477\n\n\n\n\nJohn Olsen\n\n\n\n\n\n\n\nAndrew Jaques\n\n\n\n\n\n\n\nIan Payne\n\n\n\n\n\n\n\n \n\nThis information is provided by RNSThe company news service from the London Stock Exchange END TSTFJMMTMBITBIM \n ","length":5163,"tagName":"div"}]