LONDON—Synthomer P.L.C. has revised up its earnings (EBITDA) outlook for the year 2021 on continued strong trading momentum across all its divisions.
The U.K. group expects first half earnings to come in at $436 million and full-year earnings to be in excess of $680 million, up from its previous guidance of being in excess of $610 million.
The London-based chemicals supplier reported earnings of $353 million in 2020.
In a July 19 trading update, Synthomer said volumes and unit margins remained ahead of the prior year in all divisions.
In addition, the nitrile latex business, which supplies to the rubber gloves industry, has continued to perform well, driven by exceptional demand following the COVID-19 pandemic, it added.
The business, Synthomer said, is expected to return to more normalized levels in 2022.