StockMarketWire.com - Plastics supplier Synthomer posted a 6.4% rise in first-half profit after growth in sales volumes offset a slight reduction in margins.

Pre-tax profit for the six months through June rose to £76.2m, was revenue rose 8.2% to £833.8m.

On a constant currency basis, pre-tax profit and revenue rose 4.3% and 6.4%, respectively.

The company increased its interim dividend to 4.0p per share, up from 3.7p on-year.

'Synthomer has had a good first six months of the year, reporting a further increase in underlying profit, underpinned by our geographic and product diversity alongside the group's strategy of driving organic growth and investing in bolt-on acquisitions,' chairman Neil Johnson said.

'Notwithstanding ongoing political and economic uncertainty, the group's diversified business means we are well placed to make continued progress and the board's expectations for the full year remain unchanged.'

In the first half, the company said it notched good volume growth in Europe and North America, though unit margins were slightly softer due to a US dollar transaction headwind of around £5m.

Total volumes rose 9.1% to 796.6k tonnes.








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