19 July 2021
Synthomer plc
Trading update
Synthomer plc ('Synthomer' or 'the Company') today issues a trading update ahead of its H1 results on 5 August 2021.
Since its last update on 21 April 2021, Synthomer has continued to see strong trading momentum across the business with volumes and unit margins ahead of the prior year in all divisions. In addition, the Nitrile latex business has continued to perform well, driven by exceptional demand due to the Covid-19 pandemic. As a result, the Company expects H1 2021 EBITDA to be approximately £320 million and FY 2021 EBITDA now in excess of £500m, which compares to its previous guidance of being in excess of £450m.
Synthomer continues to expect that the Nitrile latex business will return to more normalised levels during 2022. The Company will provide an update on this and its 2021 outlook in conjunction with its H1 interim results announcement.
-ENDS-
Enquiries:
|
Synthomer |
+44 1279 436211 |
|
Calum MacLean, Chief Executive Officer |
|
|
Steve Bennett, Chief Financial Officer |
|
|
Tim Hughes - President, Corporate Development |
|
|
|
|
|
Teneo |
|
|
Charles Armitstead |
+44 7703 330 269 |
|
Matt Denham |
+44 7825 735 596 |
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
