24 April 2003
CHAIRMAN'S STATEMENT AT TODAY'S ANNUAL GENERAL MEETING
Staines, UK, 24 April 2003 - At today's Annual General Meeting, Jonathan Fry,
Chairman of Elementis plc (London Stock Exchange, ELM) said:
'There has been no significant change in the trading environment since our
Preliminary Results announcement in February and the market outlook remains
'Sales in US dollars, including the benefit of last year's acquisition of the
chromium chemicals business of Occidental Chemical Corporation, increased 7 per
cent in the first quarter of 2003, versus the same period last year. However the
dollar weakened significantly between the two periods, falling by 13 percent
against the pound. As a result the comparable sterling sales fell by 6 percent.'
'Benefits from ongoing business improvement projects, including Six Sigma, which
is targeted at further reducing costs, have been evident and should increase as
the year progresses.'
'Strategic programmes addressing opportunities for step change financial
performance improvement are progressing well in each of the businesses and their
implementation is key to the Company's future growth.'
'A pre-closed period trading update will be made ahead of the Company's interim
results announcement for the six months ending 30 June 2003.'
- Ends -
Tel: + 44 (0) 1784 224212
Geoff Gaywood Chief Executive
Brian Taylorson Finance Director
Hilary Reid Evans Head of Corporate Communications
Tel: + 44 (0) 20 7404 5959
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