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Elementis falls as profits grow
Shares in Elementis fell by almost five per cent yesterday, making it one of the biggest losers on the London Stock Exchange, after the speciality chemicals supplier reported 2011 results below analyst expectations. Despite raising its full-year dividend as adjusted pre-tax profit rose by over a third, shares dipped by seven per cent, before recovering slightly in later trading. Annual adjusted pre-tax profit rose to $134.5m (£85m) from $96m the previous year. Revenue for the year rose nine per cent to $760.5m.