Synthomer reports flat profits on lower sales; nearing completion of restructuring in Europe

Synthomer (Harlow, UK), formerly known as Yule Catto, reported a 2% rise in full-year 2012 profit before tax, to £98.1 million ($148.2 million), on 12.4% lower sales, of £1.11 billion. Operating profit was flat, at £109 million, with Europe and North America (ENA) contributing £98 million, and Asia and the rest of the world £19.1 million.   “Synthomer delivered a resilient performance in 2012 against challenging market conditions. In Europe, we continued to manage our margins and deliver the synergies arising from the...

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