The chemicals company, Elementis, says it achieved record earnings in 2011 on the back of a storming performance from its Speciality Products division.
Group revenues in 2011 were $760.5m compared to $697.4 million in 2010, a growth rate of 9%, or 7% on a constant currency basis.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The company has three divisions: of those, Speciality Products and Chromium reported improved operating margins in the year but Surficants did not.
Diluted earnings per share, before exceptional items, improved by 37% to 20.8 cents in 2011, compared to 15.2 cents in the previous year.
The board is recommending a final dividend of 4.66 cents per share which will be paid on 1 June in sterling at an exchange rate of £1=$1.5723. This will bring total dividend to shareholders for the year to 7.00 cents representing an increase of 42% over 2010.
In its outlook statement Elementis says trading in 2012 "has started on a solid footing although economic uncertainties in Europe are still in evidence".
The company's stock has gained 30% in the last 12 months, although just after the open in London the shares had dropped 1.9%.
BS
-
Number of high-earning women jumps 12% – how to convert income into pensionsMore women than ever are paying the highest rate of tax as record numbers succeed in high paying professional roles. But their pension saving still needs to catch up
-
Yoshiaki Murakami: Japan’s original corporate raiderThe originator of Japanese activism, Yoshiaki Murakami, was disgraced by an insider-trading scandal in 2006. Now, he's back, shaking things up
