Elementis profits outperform

British chemicals maker Elementis posted a 53 per cent jump in first-half pretax profit that beat market expectations, helped by robust demand and pricing adjustments to offset raw material costs.

Revenue rose by 10.6 per cent to $396m (£243m). The American firm said an improved cash flow led to a 50 per cent reduction in net debt to $54.4m at the end of June.