LONDON (ShareCast) - (Sharecast News) - Synthomer sounded a positive note on the outlook, despite having swung to negative free cash flow on a full-year basis.
The specialised polymers and ingredients manufacturer forecast that it would turn free cash flow positive in 2025 and reduce debt "even without a significant improvement in market conditions".

Management also indicated that trading since the start of the year had been in line with its expectations for a "muted" start to 2025 in comparison to the relatively strong first three months of 2024.

For the year ending on 31 December, revenues edged up by 2.4% to £1.94bn or 5.1% at constant currencies.

On an underlying basis, earnings before interest and tax improved by 50.9% to £50.4m.

The underlying loss before tax meanwhile was pared from £31.1m one year before to £7.2m.

Free cash flow worsened to -£54.7m from £85.7m one year before, as a result of a non-recurring EC fine settlement, deferred pension contributions and the reduced use of a committed receivables financing facility at the end of the year.

Net debt increased 20% to £597m.

Email this article to a friend

or share it with one of these popular networks:

• DIGG
• FACEBOOK
• STUMBLEUPON
• MIXX
• YAHOO BUZZ
• DELICIOUS
• REDDIT
• NEWSVINE