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Synthomer reports lower sales, earnings due to weak demand in Europe

1:41 AM MDT | August 13, 2013 | Natasha Alperowicz

Synthomer (Harlow, UK) today reported an 11% decline in Ebit for the first six months, to  £56.0 million ($86.6 million), on sales down 7.5%, to £558.3 million. Profit before tax was 10% lower, at £48.6 million. Synthomer’s Europe and North America business reported an Ebit decline of 14.6%, to £48.5 million, mainly as a result of weaker demand in Europe, while Ebit for Asia and the rest of the world (ROW) increased 4.5%, to £11.5 million, compared with the first six months of 2012...

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