Yule Catto shares jump on profits
Shares in Yule Catto, the Essex headquartered polymer business, jumped almost 10% this morning after it announced it had doubled profits in 2011.
Shares in Yule Catto, the Essex headquartered polymer business, jumped almost 10% this morning after it announced it had doubled profits in 2011.
The price was also boosted by the firm saying it had enjoyed a solid start to 2012.
"Looking forward, we continue to anticipate several years of low growth in western economies with global growth generally driven by emerging markets, where we have a significant and increasing presence," said Chairman Peter Wood.
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
Underlying profit before tax at the firm was up 99% to £84.8m in 2011, largely due to its PolymerLatex acquisition in March, which doubled the size of the business.
It announced a final dividend of 2.3p per share, making a total dividend per share for the full year of 3.5p, 35% higher than 2010.
The firm said 2011 had been a pivotal year, with November seeing the sale of its pharmaceutical arm, making it a wholly specialised polymer business.
Going forward Yule said that it anticipated that by the end of March 2013 the annual run rate of synergies will be £25 million from its acquisition of PolymerLatex.
This should result in a benefit to operating profit in 2012 of some £15 million compared to 2011, the firm said.
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
Reeves warned against property tax shake-up – 3 ways it could backfire on first-time buyers
Rachel Reeves reportedly has her eye on high-end property taxes in the upcoming Budget, but there are concerns a shake-up could unintentionally hamper those trying to get on the housing ladder
-
Average Brits want to retire five years before they can – who has the widest retirement gap?
Brits are expecting to work for longer than ever but there are big disparities in the number of extra working years predicted. A small tweak could help close the gap