Source - SMW
Elementis performed in line with expectations in three months to the end of September and saw a continuation of the trends experienced across the first half of the year.

The group said specialty products performed well and in line with expectations:

- Coatings saw a good sales performance across all regions versus last year, however higher raw material costs impacted profit growth.

- Personal Care continued to benefit from increased penetration of the group''s hectorite based products across categories and geographies. The integration of SummitReheis remained on track with synergies well underpinned, and the group continued to implement pricing responses to recover raw material cost inflation. Elementis said it was creating a personal care business of scale.

- Energy has remained strong, reflecting higher activity levels and market share gains. Momentum in the business remained extremely positive.

The group said chromium was on track to deliver full year improvement

It said: 'Chromium has continued to perform well and in line with the trends experienced across the first half of the year. 

'Despite unplanned production outages at our Castle Hayne and Corpus Christi facilities during the third quarter we continue to expect an improved full year outcome versus 2016.'

The group said that as previously indicated, the favourable first half conditions in Surfactants had not continued. 

It said the sale process for the business was progressing well and it continued to expect resolution in early 2018.

Chief executive Paul Waterman said: 'Elementis has delivered another good revenue performance in the third quarter and overall trading is on track. 

'Trends remain similar to those reported in the first half of the year and we remain on course to grow operating profit across all three segments in 2017. 

'Going forward, we continue to see significant potential for Elementis as we implement our Reignite Growth strategy.'




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