Yule Catto doubles its profits

British chemicals maker Yule Catto’s acquisition of German peer PolymerLatex helped it to double its 2011 profit, despite several years of low growth in western economies that contribute to a majority of its revenue. Yule Catto, whose chemicals are used by the adhesive, textile, paper, and pharmaceutical businesses, yesterday reported an underlying pre-tax profit of £84.8m for 2011, compared with £42.6m in 2010. Shares in FTSE 250-listed Yule Catto soared more than nine per cent yesterday.