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Elementis Posts Improved 2007 Earnings

6:13 AM MST | February 26, 2008 | Kerri Walsh

Elementis reported full-year 2007 net income from continuing operations before exceptional items up 29%, to £32 million ($63.2 million), on sales down 1%, to £299.8 million. Exceptional items totaled £1.7 million for curtailment gains and past service credits on pension schemes and release of prior year restructuring provisions, Elementis says. Operating income rose 21%, to £38.1 million, excluding a gain of £2.4 million. “Good demand in all of our major end markets was a key driver in 2007, with the exception of the North American architectural coatings...

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