Yule Catto sales decline in first half

ERJ staff report (DS)

London- Yule Catto reported sales down by 9 percent in the first half of 2012, at £603 million. The company said, "We have delivered a solid set of results in a challenging environment driven by a strong performance in Europe and North America, which accounted for 84 percent of our profits. The PolymerLatex acquisition has significantly enhanced our product portfolio and reach, as well as provided additional cash resources which we are using to invest in emerging markets and innovation to position us for future growth..

The company noted that the nitrile rubber market had been especially challenging. It added that PolymerLatex significantly benefited its business in Europe, delivering increased scale, an enhanced product portfolio, stronger market positions and greater efficiencies. The strength of our business in Europe underpins Yule Catto's long-term growth strategy providing the necessary cash generation to accelerate its growth into emerging markets.

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Press release from Yule Catto via London Stock Exchange