LONDON (dpa-AFX) - Elementis plc (ELM.L) reported a 13% decline in third-quarter volumes, hit by the COVID-19 impacts. However, as a result of cost savings and supply chain efficiencies, overall performance in the third quarter was in line with management expectations, the company said.
The company noted that its Coatings business performed well in Q3, with revenue broadly in line with the prior year period, Personal Care sales were materially lower than both the prior year period and Q2, and Talc volumes recovered from the Q2 trough. Further, Energy continued to experience very weak market conditions with rig counts and activity levels remaining at subdued Q2 levels, Elementis said.
CEO, Paul Waterman said, 'Overall performance has been resilient and in line with our expectations. Nevertheless, the macroeconomic outlook remains uncertain and our focus remains on managing our operations well and executing our growth, innovation and efficiency agenda.'
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