Business
Preliminary Results for the year ended 31 Dec 2015
Preliminary Results for the year ended 31 Dec 2015.
About this update from Synthomer Plc
[{"type":"text","content":"\n \nRNS Number : 7404Q Synthomer PLC 02 March 2016 \n\n Synthomer plc\nPreliminary Results for the year ended 31 December 2015\nRECORD RESULTS: UNDERLYING PROFIT BEFORE TAX UP 11% TO £95.3M\n \n\n\n\n\nFULL YEAR HIGHLIGHTS\n\n\n2015\n\n\n2014\n\n\nIncrease / (decrease)\n\n\n\n\nUnderlying performance*\n\n\n \n\n\n \n\n\nReported\n\n\nConstant Currency \n\n\n\n\n \n\n\n£'m\n\n\n£'m\n\n\n%\n\n\n%\n\n\n\n\nTotal Sales (including share of JV's)\n\n\n894.0\n\n\n990.5\n\n\n(9.7)\n\n\n(2.4)\n\n\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n\n\nVolumes (ktes)\n\n\n1,251\n\n\n1,191\n\n\n5.0\n\n\n \n\n\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n\n\nOperating Profit (EBIT)\n\n\n102.9\n\n\n96.5\n\n\n6.6\n\n\n17.4\n\n\n\n\nEurope and North America (ENA)\nAsia and ROW (ARW)\nUnallocated\n\n\n73.3\n40.5\n(10.9)\n\n\n85.7\n17.8\n(7.0)\n\n\n(14.5)\n127.5\n55.7 \n\n\n(7.5)\n151.7\n55.7\n\n\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n\n\nProfit before Tax\n\n\n95.3\n\n\n86.0\n\n\n10.8\n\n\n22.8\n\n\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n\n\nEPS (p)\n\n\n21.5\n\n\n19.5\n\n\n10.3\n\n\n \n\n\n\n\nDPS (p) - ordinary\n\n\n8.6\n\n\n7.8\n\n\n10.3 \n\n\n \n\n\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n\n\nProfit before Tax - IFRS\n\n\n72.5\n\n\n53.8\n\n\n34.8\n\n\n \n\n\n\n\n*Underlying performance excludes special items, unless otherwise stated\n \nHighlights\n \n· Resilient operating performance in Europe and North America (ENA):\n- EBIT at £73.3m stable relative to 2014 (2014: £85.7m) before adverse currency impact of £6.0m and higher group wide employee bonuses of £6.9m.\n- Cost savings programme delivered annualised savings of €7m; on track to achieve annualised savings of €13m by the end of 2016.\n \n· Asia and Rest of the World (ARW) very strong:\n- EBIT up 128% to £40.5m (2014: £17.8m) mainly driven by Malaysian nitrile butadiene rubber business; up 176% before adverse currency of £4.3m and bonuses of £4.3m.\n- Construction and coatings had a good year in all geographical areas: Malaysia, Middle East and Africa.\n \n· R&D driving innovation: products launched in last 5 years representi...