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Synthomer increases its 2018 interim dividend by 8%

Investment Tools Ltd.
Synthomer increases its 2018 interim dividend by 8%

Synthomer 2018 interim results

Underlying profit before tax (PBT) up 6.4% to £76.2m (constant currency up 4.3%):

• Good volume growth in Europe & North America (ENA); unit margins slightly softer due to US$ transaction headwind (c.£5m)

• Strong volume growth in Asia & Rest of World (ARW); unit margin growth in Nitriles

• Successful integration of BASF Pischelsdorf following completion in January

IFRS profit before tax £86.2m

Investment programme to increase capacity across the network on track

R&D delivering sustainable growth: new products represent circa 20% of total sales in Existing business (2017: 20%)

Effective tax rate reduced to 18.0% (H1 2017: 20.0%)

Underlying earnings per share up 9.5% at 18.4p per share

Interim dividend of 4.0p (2017: 3.7p); increase of 8.1% in line with dividend policy

Strong and flexible balance sheet maintained - leverage 1.1x EBITDA

Companies mentioned

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