Elementis Plc (ELM.L) Wednesday said in its latest trading update that it is on track to report full-year results in line with market expectations. The company added that its Chair John O'Higgins will be stepping down from his position in April next year.
For the year ending December 31, the specialty chemicals manufacturer expects mean adjusted operating profit of $125 million, in the $123 million to $127 million range.
The company said that revenue was $152 million in the third quarter ended September 30, up 2 percent from the same period last year. On a constant currency basis, however, revenue was flat, due to the impacts of a weaker U.S. dollar.
According to Elementis, adjusted operating profit rose from the year-ago quarter, helped by ongoing self-help initiatives and effective cost control measures.
Among divisions, the company said that in Personal Care, sales were stable on a constant currency basis, with positive pricing and volume gains offsetting an unfavorable product mix. Coatings also reported flat sales in constant currency terms, as volume and mix softness in the Americas was partially offset by improved pricing, Elementis said in an official statement.
During the third quarter, the Energy business grew from a year ago, helped by higher volumes, pricing, and an improved mix, the company added.
The company said that its Chair, John O'Higgins will not seek re-election at the Annual General Meeting or AGM to be held on April 29, 2026. He will step down as Chair and Non-Executive Director immediately following the AGM and further details regarding his successor will revealed soon, Elementis added.
The company added that Heejae Chae will also step down as Non-Executive Director by the end of 2025.
On the LSE, ELM.L is down 1.52 percent on Wednesday's trading at 168.20 pence.
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