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Elementis PLC on Tuesday celebrated double-digit profit growth across Coatings and Personal Care in the fourth quarter, boosting its outlook.
The London-based speciality chemicals and personal care business expects to report adjusted operating profit of between $126 million and $128 million for 2024, up at least 21% from $104 million in 2023, and beating the company-compiled consensus, which has a range of $121 million to $125 million.
This was boosted by on-year revenue growth and double-digit profit growth in the fourth quarter across Coatings and Personal Care, the firm said.
Further, the adjusted operating margin was above 17% for 2024, up healthily from 14.6% in 2023. This ‘demonstrates good progress on the efficiency and growth programmes’, Elementis said.
Elementis will release its 2024 results on March 6.
Elementis shares rose 6.3% to 156.00 pence each on Tuesday morning in London.
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