LONDON (ShareCast) - Chemicals group Yule Catto has made a good start to the current year despite the economic background, with Impact Chemicals and Polymers both ahead.

"2008 has started positively, with our unaudited management accounts showing revenues and profits in-line with our expectations and ahead of last year," Catto said.

'Polymer Chemicals made a solid start to the year, ahead on sales and profit, supported by the expanded nitrile capacity in Malaysia, the statement added.

Pharma Chemicals experienced a very strong first half in 2007 based in the main on customer order phasing. Profit for the first quarter of this year is consequently below last year, but the results are in line with expectations Yule said. Impact Chemicals has benefited from a restructuring programme.

"Overall, despite the economic concerns we remain confident that 2008 will be a year of further improvement for the group," Yule concluded.

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