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Plastics producer Synthomer upgraded its annual earnings guidance amid strong demand for latex during the pandemic.
First-half earnings before interest, tax, depreciation and amortisation was expected to be around £320 million, the company said in a trading update.
For the full year through December, EBITDA was expected in excess of £500 million, up from previous guidance above £450 million.
'Since its last update on 21 April, Synthomer has continued to see strong trading momentum across the business with volumes and unit margins ahead of the prior year in all divisions,' it said.
'In addition, the Nitrile latex business has continued to perform well, driven by exceptional demand due to the Covid-19 pandemic.'
Synthomer said it continued to expect the latex business to return to more normalised levels during 2022.