London—The "exceptional performance" of its nitrile butadiene rubber latex segment has helped Synthomer P.L.C. double its earnings in 2021, but the United Kingdom-based chemicals group expects the momentum to ease this year.
In a trading update Feb. 14, the group said it saw strong trading across all divisions during 2021 with full year earnings (EBITDA) expected to be double the prior year at $706 million.
While the 2021 performance benefited from peak margins within the NBL business, Synthomer noted that margins have "normalized to pre-pandemic levels," since the beginning of 2022.