Synthomer shares up after strong first half

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Synthomer shares up after strong first half
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Revenues at FTSE 250 Synthomer (LON:SYNT) rose by 8.2% to £833.8 million for the six months ended 30th June as sales volumes grew in markets around the world. The company said that its underlying operating profits for the period were up by 6.4% at £76.2 million, while IFRS pre-tax profits climbed by 61.4%. to £86.2 million.

Chairman Neil Johnson said that: “Notwithstanding ongoing political and economic uncertainty, the Group’s diversified business means we are well placed to make continued progress and the Board’s expectations for the full year remain unchanged.

Looking to 2019, we remain cautiously optimistic about the future prospects of the Group. The growth capex is expected to yield returns in both ENA and ARW and we will continue to explore both bolt-on and transformational acquisitions in a disciplined manner“.

Shares in Synthomer were up by 3.27% at 537p (as of 12:15 BST).

 

 

 

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