StockMarketWire.com - Specialty chemicals company Elementis said first-quarter trading had met expectations, though flagged a downturn in sales in April owing to coronavirus-led macroeconomic uncertainty.

For the three months ended 31 March 2020, trading had been in line with expectations, with year-on-year operating profit growth, the company said.

'Our global supply chain operated well with no raw material shortages or plant shutdowns except for, as previously announced, a temporary closure of two sites in China during February,' the company said.

"Although first quarter trading was in line with expectations with improved profitability, the macro-economic and end-market outlook is highly uncertain and we have seen an approximate 15% year on year decline in April revenue,' it added.

'Given the uncertain environment no specific guidance is provided for the remainder of the year, although we will update as and when visibility improves. We continue to tightly and actively manage the business in terms of costs and cash flow to address changes in demand.'


At 8:39am: [LON:ELM] Elementis PLC share price was +2.93p at 73.18p



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