UK's Synthomer says Q2 performance ahead of expectations, shares up 8%
UK's Synthomer says Q2 performance ahead of expectations, shares up 8% June 22 (Reuters) - UK speciality chemicals supplier Synthomer SYNTS.L on Monday said its second-quarter performance was ahead of expectations as supply chain disruptions at rivals and customer stockpiling boosted demand, sending its shares up as much as 8%.
The company, which makes polymers for coatings, adhesives and medical gloves, said it has continued to pass through significant raw material and energy cost increases to customers, following the start of the Iran war earlier this year.
Here are some more details:
Synthomer said supply disruptions at Asian rivals and customer pre-buying lifted demand, resulting in stronger-than-expected growth in volumes, margins and EBITDA.
Its first-quarter performance was also in line with expectations, with growth in Coatings & Construction Solutions and a stable Adhesive Solutions business offsetting a slower start in parts of Health & Protection and Performance Materials.
Synthomer maintained its outlook for year-on-year progress in 2026, though CEO Michael Willome cautioned that the geopolitical environment remains volatile, making it difficult to predict how long current conditions will last.
Synthomer has 29 manufacturing sites across Europe, North America, the Middle East and Asia.
The company shares rose as much as 7.9% to 123.60 pence, their highest since June 2025.
(Reporting by Neeshita Beura in Bengaluru; Editing by Sonia Cheema)
((Neeshita.Beura@thomsonreuters.com))
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