Results Announcement 2003

16 Apr 2004 Southampton, UK

Prelims tableLucite International, owner of the world-renowned Lucite® and Perspex® brands and a global leader in the innovation, design and manufacture of acrylic based products, today announces its results for the year ended 31 December 2003.

Highlights

• Significant improvement in pre-tax profits due to strong demand for acrylic materials and resins, and record output, 15% up on 2002.

• Continued strong cash generation

• A strong performance despite challenging economic conditions and increased raw material prices

• The construction is underway of a 100 kte methyl methacrylate (MMA) plant in China, the world’s fastest growing market

• The development of Lucite International’s revolutionary new route to methyl methacrylate (Alpha) continues to progress to plan. An Alpha pilot plant has been in successful operation for over 18 months and a siting study is underway for a full scale plant

• New Board appointment - Annie Veerman Chief Financial Officer

Commenting on the results Ian Lambert, Chief Executive, said: “2003 was another year of significant progress for Lucite International and our results reflect the continued improvements in output and productivity achieved compared to 2002. These efficiency gains resulted in a much-improved financial performance, including a recovery in Ebitda and gross margins despite increased raw material costs. Our global presence, continued focus on cost efficiency and expansion into new product areas will ensure Lucite International achieves further progress in 2004.”

< Back to News index