Trading Update

RNS Number : 3786F

Yule Catto & Co PLC

12 January 2010

 



12 January 2010

Yule Catto & Co plc

Trading Update

Yule Catto & Co plc ("Yule Catto" or the "Group"), the international producer of speciality chemicals, today issues a trading update ahead of its preliminary results announcement for the year to 31 December 2009.

The Board is pleased to confirm trading profitability in the second half of 2009 was slightly improved on the levels experienced through the first half. Full year underlying profit before tax will be strongly ahead of 2008, and ahead of current market expectations.

Within Polymer Chemicals, costs remained under tight control and the steady volume recovery seen through the first half continued into the second half. We expect further volume improvements through 2010.

Pharma Chemicals saw some recovery in volumes late in the year, and will be ahead of last year, as will our remaining Impact business.

Net debt has fallen below £100M, twelve months ahead of the Group's target.

With debt firmly under control, the Board and management remain fully focussed on continuing to drive profitable growth. The Group's success at growing the profitability of its Polymer Chemicals Division over recent years, both pre and post recession, and the strong financial performance of the Group in both 2008 and 2009 gives us every confidence for the future.

Yule Catto expects to announce its 2009 full year results on 10 March 2010.

- Ends -

Enquiries:

Yule Catto & Co plc	Tel: [phone]
Adrian Whitfield, Chief Executive
David Blackwood, Finance Director
Hogarth Partnership Limited	Tel: [phone]
John Olsen
Andrew Jaques
Ian Payne

 

END

 

 

TSTBBMJTMBABTBM