July 11 Chemical maker Synthomer Plc
said it expected full-year operating profit to be lower by about
5 million pounds ($8.5 million) due to further strengthening of
Synthomer, which supplies speciality emulsion polymers used
in construction, textiles, paper and latex gloves, said it
previously expected a 4 million-pound hit to operating profit.
The company, formerly known as Yule Catto & Co, added that
operating profit in Asia would be about 4 million pounds lower
than a year earlier as strong competition and weak butadiene
pricing continued to pressure margins. Butadiene is used in the
production of synthetic rubber.
However, Synthomer said that it expected demand for nitrile
latex to grow and margins to firm as the second half progresses.
Nitrile is a speciality chemical used in making latex, a
very fine quality of rubber.
($1 = 0.5877 British Pounds)
(Reporting by Aastha Agnihotri in Bangalore; Editing by