London – Synthomer plc has revised up its earnings (EBITDA) outlook for the year 2021 on continued strong trading momentum across all its divisions.
The UK group expects first half earnings to come in at £320 million (€371 million) and full-year earnings to be “in excess of £500 million”, up from its previous guidance of “being in excess of £450 million.”
The London-based chemicals supplier reported earnings of £259 million in 2020.
In a 19 July trading update, Synthomer said volumes and unit margins remained ahead of the prior year in all divisions.
In addition, the nitrile latex business, which supplies to the rubber gloves industry, has continued to perform well, driven by “exceptional demand” following the Covid-19 pandemic, it added.
The business, Synthomer said, is expected to return to “more normalised levels” during 2022.