Elementis 1H Pretax Profit $46.2M Vs Loss $44.4M

2nd Aug 2010 07:44

LONDON (Dow Jones)--Elementis PLC (ELM.LN), a global specialty chemicals company, said Monday that it made pretax profit of $46.2 million for the half year ended June 30, compared with loss $44.4 million, and said a robust order book give it confidence in its ability to make further progress as the company heads into the second half of the year. MAIN FACTS: -Revenue up 41% to $358.0 million versus $253.1 million -Operating margin improved to 13.6% versus 3.2% -Specialty Products' operating margin 17.3% versus 6.9% -Specialty Products represents 77% of Group operating profit -Operating cash flow improved by $67.5 million to $52.2 million versus loss $15.3 million -Earnings per share 7.3c versus loss 10.1c -Net debt $108.3 million versus $126.1 million -Dividend to shareholders 2.34c -New four year financing agreement signed with same covenant package -Shares closed Friday at 77.50 pence, valuing the company at GBP347.55 million. -By Razak Musah Baba, Dow Jones Newswires; 44-20-7842-9275; [email protected] Order free Annual Report for Elementis Holdings Ltd Visit http://djnweurope.ar.wilink.com/?ticker=GB0002418548 or call +44 (0)208 391 6028 (END) Dow Jones Newswires August 02, 2010 02:44 ET (06:44 GMT)