Personal care momentum helps boost Elementis Q1 revenue
Personal care sales have helped to increase global specialty chemicals outfit Elementis to register a 7% year-on-year increase in revenue for Q1 2022.
The British company said the increase for the three months ended 31 March 2022 was driven by pricing actions, new business wins and continued demand recovery in personal care.
“Personal Care performance improved materially as social restrictions eased further and our growth initiatives continued to gain momentum,” the company added in a statement.
“Margins were strong due to successful pricing actions. The ramp-up of our new plant in India continues to progress at pace.”
Elementis CEO Paul Waterman added: "We have made a good start to the year and will continue to maintain our focus on self-help actions and effectively managing the challenging external supply chain environment, demand uncertainties and rising inflation.”
“We remain on-track to deliver $50m of new business opportunities, over 20 new products and progress towards $10m of additional efficiency savings by 2023,” he added.
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