LONDON (dpa-AFX) - Elementis PLC (ELM.L), a specialty chemicals and personal care business, Thursday reported profit before tax of $34.9 million for the first half of the year, higher than $23.2 million pounds in the comparable period last year.
Excluding one-time items, adjusted profit before tax was $45.1 million compared with $46.4 million a year ago.
Net profit from continuing operations increased to $25.7 million or 4.3 cents per share from $17.8 million or 3 cents per share a year ago.
Adjusted earnings from continuing operations were $33.3 million or 5.6 cents per share compared with $36 million or 6.1 cents per share prior year.
Revenue for the first six-months period were down 6% year-on-year at $363.8 million, driven primarily by weak market demand.
Looking forward, Elementis said, 'For the rest of the year, we are confident that our first half performance, combined with continued proactive cost management, means we are well positioned to deliver an improved financial performance in line with expectations and a further reduction in leverage.'
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