Elementis PLC AGM Trading Statement (1535M)
26 April 2018 - 4:00PM
UK Regulatory
TIDMELM
RNS Number : 1535M
Elementis PLC
26 April 2018
Elementis plc
AGM Trading Statement
Solid start to the year, confident of further progress in
2018
Elementis has made a good start to the year and is confident of
making further financial and strategic progress in 2018.
Solid business performance
-- In Personal Care our hectorite based products for the
cosmetics market continue to experience growth across new product
categories and geographies. Performance in anti-perspirant active
ingredients has improved following pricing actions taken in
2017.
-- In Coatings performance benefited from growth in EMEA and the
Americas, and a steady performance in Asia.
-- Energy has remained solid. As expected, growth has moderated
against strong comparatives, with good performance in the US and
rest of the world, and lower industry activity levels in
Canada.
-- Chromium continues to deliver resilient performance but
exceptional weather conditions at our Castle Hayne plant
constrained output in the first quarter. Production has since
recovered and we continue to expect full year performance to be in
line with 2017.
Sustained cash generation and robust financial platform
Elementis' strong free cash generation continued in Q1 and net
debt reduced from the year end, assisted by the completion of the
disposal of our Surfactants business in March. Our financial
platform is robust and supportive of future growth and continued
shareholder value creation.
Commenting on the performance, CEO, Paul Waterman said,
"Elementis has had a solid start to the year and we are
confident of delivering continued progress in 2018, in line with
our previous expectations."
Enquiries
Elementis plc
James Curran, Investor Relations Tel: 020 7067 2994
Tulchan
Martin Robinson Tel: 020 7353 4200
This information is provided by RNS
The company news service from the London Stock Exchange
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