Elementis gleams as profits soar

1st Mar 2011 15:21

Chromium specialist Elementis saw a major turnaround in fortunes last year, with its speciality products enjoying a record 12 months. Revenues in 2010 jumped to $697m compared to $564m in the previous year, with operating profit up 183% to $102.3m. Pre-tax profits rose 239% to $96m.In Specialty Products, sales volumes were well ahead of the previous year in both the first and second halves of the year, demonstrating solid underlying growth in this business. In Chromium, the 2009 restructuring exercise is already showing positive results with good earnings and cash flow improvements in the year."The positive momentum and market demand we have experienced in 2010 has continued into the early part of 2011, " Elementis added. The dividend for the year rises by 7% to 3.1p.