LONDON (dpa-AFX) - Elementis PLC (ELM.L), a specialty chemicals company, Thursday reported loss before tax of $25.8 million compared with profit before tax of $34.9 million a year ago, reflecting $66 million impairment of assets in Talc. However, revenue increased from last year.
Operating loss was $11.2 million compared with operating profit of $43.8 million last year. Excluding items, adjusted operating profit was up 24 percent to $65.2 million.
The company posted net loss from continuing operations of $37.2 million or 6.3 cents per share compared with net profit of $25.7 million or 4.3 cents per share a year ago.
Adjusted profit was $36.8 million or 6.1 cents per share, up from $33.3 million or 5.6 cents per share last year.
Revenue for the period was up 5 percent to $382.6 million from $363.8 million in the previous year, driven by improved volumes and mix.
The Board has declared an interim dividend of 1.1 cents per share, to be paid in pounds sterling. A dividend of 0.86 pence per share will be paid on September 27 to shareholders on the register on September 16.
Looking ahead, the company expects full-year performance to be slightly above the top end of the current range of market expectations on the back of strong first-half results. The consensus estimate for adjusted operating profit is in the range of $115 million-$120 million.
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