StockMarketWire.com - Elementis said it would target further cost cuts in an effort to deliver an adjusted operating profit margin of 17% over the medium term.

After delivering $10m in cost savings in 2019, the company said it would target a further $15m of cost savings by 2022, driven by further efforts to digitise its business.

Elementis would also target operating cash conversion of at least 90% per annum with underlying growth in adjusted operating profit.

It was also on track for $30m of working capital savings by 2020, with capex expected to be about $50m a year.

At 9:30am: [LON:ELM] Elementis PLC share price was +0.55p at 172.55p



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