Synthomer PLC (SYNT.L) Thursday said weaker than anticipated demand in Europe during March and April has led to volumes and profit being lower against a strong performance in the same period last year. The firm, however, said trading in Asia has been ahead of expectations in the year-to-date. Looking forward, the firm said, due to the aforementioned factors, it remains cautious about outlook for the year and expects the relative strength in Asia to partially off-set the weakness in Europe.
The company said since its last update in March, the macro-economic environment in Europe has remained challenging taking a toll on demand. Europe and North America business experienced 7 percent year-on-year volume declines in March and April. Further, weakness continued to be most evident in construction and related areas, in part due to the adverse weather conditions.
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