Today’s interims confirm strong growth in sales (+24%) and operating profit (+26%) driven by a first time contribution from SummitReheis and a profit windfall in the Surfactants division. Importantly, the integration of SummitReheis in on track and full year guidance is maintained. Energy and Personal Care are the standout performers within Specialties (revenue +78% and +25% respectively) whilst Coatings was more mixed (+2%). Chromium has returned to growth and remains positioned to improve on last year’s performance. In our view, this confirms a period of good progress and early signs of delivery under the Reignite Growth strategy.
