Elementis says strong Q1 to drive operating profit growth

Speciality chemicals group Elementis said it was on track to grow full year operating profit across its three segments after a positive first quarter of 2017.

In a trading statement, the company said the solid start was underpinned by stronger demand across most of its markets compared with the same period in 2016.

“In Specialty Products, our Coatings business sector started well and we saw notably strong growth in our Personal Care and Energy business sectors,” Elementis said.

“In our Chromium segment there were some indications of improved demand outside North America. In Surfactants we are benefiting from short term favourable pricing conditions which are not expected to continue indefinitely. This represents a positive start to the year and we remain on track to grow operating profit across our three segments in 2017.”