Elementis’ AGM statement confirms a positive start to the year with stronger demand evident in most markets during Q1. This reinforces our confidence that 2017 will see a return to earnings growth after the challenges of 2016. It has been a busy period strategically with the sale of the non-core US colourants business and the closure of the Jersey City facility, as well as the significant acquisition of SummitReheis. The SummitReheis deal closed on 24th March, three months earlier than originally planned, prompting a 5% earnings upgrade to FY17 this morning. In our view prospects for the coming years are bright and Elementis remains a Best Idea for 2017.
