Oil and gas demand props chemical maker Elementis revenue
Oct 25 (Reuters) - Specialty chemical maker Elementis Plc reported a 12 percent rise in third-quarter revenue, helped by a recovery in demand from the oil and gas drilling market.
Elementis, which makes additives used in oilfields, industrial coatings and cosmetics, said it expected full-year earnings per share to be in line with market expectations.
The company said operating margin in the third quarter was similar to that in the first half of the year, as overall pricing remained stable.
Revenue in its core specialty products business, which makes additives used in personal care products and oilfields, rose 15 percent. Excluding the impact of acquisitions and currency movements, revenue rose 8 percent.
The company, which was hurt last year when customers in the oil and gas drilling sector reduced inventory levels, said sales to the sector continued to improve.