UK's Elementis 2012 net profit down 14% in 2012 to $107.1m

26 February 2013 09:29  [Source: ICIS news]

SINGAPORE (ICIS)--Elementis’ net profit fell by 14% year on year to $107.1m (€81.4m) in 2012, weighed by one-off gains in 2011, the UK-based specialty chemicals firm said on Tuesday.

Its sales dipped by 0.5% year on year to $757.0m last year, while the firm’s operating profit rose by 5.0% to $143.9m, the company said in a statement.

There were no exceptional items reported in 2012 while the company posted a one-time gain of $34.5m from the European Commission in 2011 after it repealed its decision to impose fines on Elementis.

“Trading in 2013 has started on a solid footing, although economic uncertainties are still in evidence,” said Elementis group CEO David Dutro.

“Having continued to make strategic investments in our products and plants throughout 2012, we are confident that Elementis can make further progress in the coming year,” he added.

($1 = €0.76)

By: Nurluqman Suratman

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