Elementis stays strong after beating forecasts

Chemicals maker Elementis today topped analysts' forecasts on its first-half pre-tax profit, helped by volume growth in all key markets and cost cuts, and said strong trading continued into the second half.

The company, which makes chemicals to enhance the texture of paints and cosmetics, kept its interim dividend unchanged at 1.5p.

"These results, combined with our strength in emerging markets and a robust order book give us confidence in our ability to make further progress as we head into the second half of the year and over the longer term," chief executive David Dutro said.

For the six months to the end of June, Elementis posted a pre-tax profit of $46.2 million (£29.23 million), compared with $3.2 million (£2.03 million) last year. Revenue rose 41% to $358 million (£226.76 million).