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Synthomer posts lower earnings and sales on strong UK currency, weak Asian nitriles

8:18 AM MDT | August 11, 2014 | Ian Young

Synthomer (Harlow, UK) posted a 7% decline in pretax profit for the first half of 2014 compared with the corresponding period of last year, to £45 million, on sales down 9%, to £510 million. Operating profit also declined—9%, to £51 million. The company cites the strength of the UK currency and weakness in the company's nitrile business in Asia. Second-quarter figures have not been disclosed. Adverse currency effects shaved £2.5 million off Synthomer's first-half group operating profit. The company's operating profit in the Asia and...

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