Alent warns of difficult trading conditions in third quarter

Specialty chemicals supplier Alent has warned slower-than-expected trading it experienced in the first half has continued in the third quarter.

The FTSE 250 group said the challenging environment that has characterised the electronic and automotive sectors led to a 3.5% year-on-year decline in third quarter net sales value at constant currency to £100.7m.

Net sales value in the assembly material business fell 4.2% from the corresponding period in 2014 to £49.6m, while net sales value in the surface chemicals division declined 2.7% year-on-year to £51.1m.

"Net sales value was impacted by the slowdown in the electronics end-markets and continuing headwinds due to lower metal prices in our reclaim business,” the company said in a statement.

“As a consequence of lower product volumes and metal pricing, net sales value margin was down slightly in the period, moderated by strict cost controls.”

Meanwhile, the London-listed company said Platform Specialty, which submitted a £1.35m takeover bid in July, indicated it will make the payment on 7 December.

Alent shares were down 0.52% to 493.50p at 0858 BST on Monday.