logo
Plus   Neg
Share
Email

Elementis H1 Adj. Operating Profit Declines; Revenue Down 11% On Organic Basis

Elementis Plc (ELM.L) reported a statutory loss of $51 million for the six months ended 30 June 2020 compared to profit of $40 million, last year. Loss per share in cents was 8.7 compared to profit of 6.8. The results included $60 million of non-cash goodwill impairments across Energy and Talc assets primarily as a result of COVID-19 impact. Adjusted operating profit was down 34% (down 33% on an organic basis) to $42 million. Adjusted profit before tax was $28 million compared to $49 million. Adjusted earnings per share in cents was 3.5 compared to 6.5.

First half revenue was down 14% (down 11% on an organic basis) to $387 million from $450 million principally due to COVID-19 related impact on second quarter volumes across industrial end markets.

The Board has decided it is prudent to preserve cash and will not be declaring an interim dividend for 2020.

For comments and feedback contact: editorial@rttnews.com

Business News

RELATED NEWS
Follow RTT