|Bid||84.00 x 0|
|Ask||180.00 x 0|
|Day's range||90.30 - 93.30|
|52-week range||83.00 - 316.00|
|Beta (5Y monthly)||1.46|
|PE ratio (TTM)||N/A|
|Earnings date||31 Jul 2023 - 04 Aug 2023|
|Forward dividend & yield||N/A (N/A)|
|Ex-dividend date||06 Oct 2022|
|1y target est||166.08|
The coatings and constructions solutions maker halved its total annual core profit, including recent disposals, to 265 million pounds ($325.9 million), but in line with its forecast in January. Synthomer said it expects to emerge from the subdued level of demand in the second half of this year, although visibility is currently limited. Synthomer had in December agreed to divest its laminates, films and coated fabrics businesses for $267 million to Surteco North America.
SINGAPORE (Reuters) -Malaysian plantation giant Kuala Lumpur Kepong Bhd is considering raising its stake in British chemicals company Synthomer Plc as it looks to further expand its specialty chemicals business globally, two sources told Reuters. Kuala Lumpur Kepong is talking with at least one financial adviser to explore potentially boosting its 26.3% stake in Synthomer, said the sources with knowledge of the matter. It is not immediately clear whether it will acquire a controlling stake.
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The company now expects its full year earnings before interest, taxes, depreciation and amortization to be 10%-15% lower than its previous expectations, it said in a trading statement. Synthomer has been saddled with a high inventory of medical gloves post the pandemic, with reduced demand. "Whilst underlying end-customer demand for medical gloves remains similar to pre-pandemic levels, the destocking impact is not expected to abate before the end of 2023," Synthomer added.