The London-based specialty-chemicals company, Elementis, has announced that its performance in the fourth quarter of 2023 remained strong despite challenging market conditions. The company reported significant growth in both profit and revenue during this period, in contrast to a weak fourth quarter in the previous year.
Adjusted operating profit, which excludes exceptional and one-off items, is projected to be in the range of $102 million to $104 million for the year, surpassing the $100.5 million achieved in the previous year. This positive financial outcome demonstrates Elementis’ ability to adapt and thrive in a dynamic business environment.
Furthermore, net debt for the year is expected to decrease to approximately $201 million from $367 million as of December 31, 2022. This reduction in debt highlights Elementis’ commitment to managing its financial obligations effectively.
The company-compiled consensus forecasts an adjusted operating profit of $102 million and net debt of $229 million for the year.
Elementis remains determined to achieve its financial targets, including an operating margin above 19% by 2026. This ambitious goal reflects the company’s dedication to sustainable growth and long-term success.
As of 8:43 AM GMT, Elementis shares have seen a positive increase of 4.60 pence or 3.9%, reaching 122.20 pence.
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