Interim Results 8th September 2005 - PowerPoint PPT Presentation

Loading...

PPT – Interim Results 8th September 2005 PowerPoint presentation | free to view - id: b60ed-ZGY2N



Loading


The Adobe Flash plugin is needed to view this content

Get the plugin now

View by Category
About This Presentation
Title:

Interim Results 8th September 2005

Description:

Strong volume growth in polymers. Further improvement in pharma ... Headline UK GAAP. m. 5.2. 8. IFRS Restatement Underlying Performance 2004. 5.1. 9 ... – PowerPoint PPT presentation

Number of Views:25
Avg rating:3.0/5.0
Slides: 26
Provided by: yulec
Category:

less

Write a Comment
User Comments (0)
Transcript and Presenter's Notes

Title: Interim Results 8th September 2005


1
Interim Results8th September 2005
2
Highlights
  • Total revenue increased by 6 to 290.8M
  • Profit before taxation 17.9M
  • Earnings per share of 8.2p
  • Interim dividend 3.7p
  • Strong volume growth in polymers
  • Further improvement in pharma development
    infrastructure
  • Modest increase in borrowings

3
IFRS Restatement of 2004
4
IFRS Restatement of 2004
  • Balance Sheet
  • Borrowings
  • Profit before tax impact
  • Underlying performance

5
IFRS Restatement Balance sheet 01.01.04
5.5

6
IFRS Restatement Borrowings
5.6.4
7
IFRS Restatement Underlying PBT 2004
5.2
8
IFRS Restatement Underlying Performance 2004
5.1
9
INTERIM RESULTS 2005
10
Turnover by Destination
290.8M
274.5M
6
11
Consolidated Profit and Loss Account
12
Operating Profit by Origin
Exchange Rates Average for Period 2005 2
004 Euro 1.47 1.49 Malaysian Ringgit
7.11 6.91
13
Daily Exchange Rates
Average for 2005 1.88
Average for 2004 1.84
Average for 2003 1.61
14
Consolidated Balance Sheet
15
Cash Flow Statement Underlying performance
16
Sector review
  • Polymer Chemicals
  • Pharma Fine Chemicals
  • Performance Chemicals

17
Divisional overview
18
Polymer chemicals
Sales
Operating profit
Operating profit
m
m
179.7
15.4
13.7
153.7
57.6
57.6
57.0
  • Turnover up 17
  • Good volume growth
  • Europe - Dispersions 11
  • - Latex 5
  • Far East - Dipping Latex 38
  • Monomer feedstock availability improving
  • Rise in raw material costs reduced in second
    quarter
  • Selling prices successfully increased
  • Future impact of high oil price unclear
  • Carpet compounding operations restructured
  • Investment in 2006 for additional European and
    Far East capacity

19
Polymer chemicals
Raw material prices
20
Polymer chemicals
21
Pharma and fine chemicals
Sales
Operating profit
Operating profit
48.7
43.8
8.0
7.0
26.1
m
m
  • Growth in omeprazole volume offset by reduced
    selling prices in USA
  • Solid performance by traditional generic actives
  • Benefits emerging from Zolpidem and Terbinafine
  • DMF registration programme accelerating
  • New research laboratories in Spain and pilot
    plant in Italy
  • Good ethical contracts secured in difficult
    market conditions
  • High potency unit approved commissioning
    mid-2006
  • Weaker market for Flavours Fragrances persists

22
Pharma and fine chemicals
No. of DMF registrations in USA for generic market
23
Performance chemicals
Sales
Operating profit
Operating profit
72.2
4.6
67.2
4.1
16.9
m
m
  • Progress on reorganisation
  • March sale of Brencliffe
  • July closure of UK James Robinson site
    announced
  • August withdrawal from pigment dispersion
    sector
  • Ultramarine sales growing to Far East Europe and
    USA demand solid
  • Hair dye actives, photochromics and colour
    developers performing well
  • Consumer Chemicals facing weaker market
  • Further restructuring of the division in hand
  • Good demand for tin, iodine and copper catalysts
  • SO2 derivatives market share stabilised

24
Dividend
Reduction of 33 rebalances cash applied to
dividends
  • Provides capacity for incremental investment in
    growth areas
  • Assists funding of working capital in rising raw
    material environment
  • Creates clarity and certainty

25
Outlook
  • Polymer sales show strong growth improved raw
    material availability investment planned to
    enhance capacity
  • Volume of generic active ingredients remains
    good new facilities support accelerated product
    development programme
  • Reorganisation of Performance Chemicals
    businesses continues to strengthen division
  • Active cash management to deliver attractive
    investment opportunities in key areas
About PowerShow.com