The speciality chemical producer Yule Catto has seen its share price edge higher on Thursday on news its third quarter earnings were ahead of management expectations.
The group makes clear, however, that it is seeing weakening demand in its polymers business due to customer de-stocking. Brighter news though is that lower input prices for monomer kept profitability levels ahead of 2010.
Yule says it has already squeezed £8m in synergies out of its acquisition of the German firm PolymerLatex, with another £12m expected by 2013.
Subscribe to 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 board says it believes full year earnings will be "at least" in line with current market expectations.
BS
-
Will Poland’s new president stifle its stock market’s winning streak?Poland’s stock market has outperformed many of its European peers, but with a newly-elected populist President at odds with a Liberal government, what lies ahead?
-
Fund flows rose in April but did investors sell in May?ISA season prompted the highest level of inflows into investment funds during April but the mood may have changed in May
