UK's Elementis sees 7% rise in Q1 specialty products sales volumes

25 April 2013 12:57  [Source: ICIS news]

LONDON (ICIS)--UK-based producer Elementis reported on Thursday that sales volumes for its specialty products in the first quarter of 2013 increased 7% compared with the same period last year.

In an interim management statement for the three months ended 31 March 2013 on the London Stock Exchange, the company also said sales volumes for coatings additives in North America were 3% higher year on year, while volumes in Latin America more than doubled.

Volumes for coatings additives in Asia-Pacific were 4% higher, while in Europe sales volumes grew by 7% as the company continued to succeed in identifying new business opportunities to offset underlying economic weakness”.

Detailed sales figures were not disclosed.

In its personal care unit, sales volumes were 4% higher than the same period of 2012, Elementis added.

The company said sales volumes in its oil and gas drilling sector improved significantly compared with the second half of 2012, when an industry inventory adjustment caused a temporary downturn in order patterns.

Elementis’s Chromium business, meanwhile, had its first-quarter sales impacted by a scheduled plant maintenance shutdown. The most recent maintenance was carried out in the early part of 2013, reducing sales volumes in the first quarter by 15% compared with the prior-year quarter.

Group chief executive David Dutro said: "In the first three months of 2013 we have made a solid start to the year, particularly as we are comparing our performance to a very strong quarter in 2012.

“We continue to benefit from the diverse nature of our business, both in terms of geography and end market.

“Overall, we anticipate full-year earnings will be in line with market expectations,” Dutro said.

By: Franco Capaldo
+44 (0)20 8652 3214

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