Business Weekly - Cambridge, UK

The group said that it plans to reorganise its operations into three new divisions: polymer, pharma and impact chemicals, grouping its troubled performance chemicals division, which the firm blamed for lower full year pretax profits in March, with fine chemicals, now named the impact chemical division.

“2007 has started positively, with our un-audited management accounts showing revenues and profits in-line with expectations. First quarter pre-tax profit in all three operating divisions is ahead of the prior year corresponding period,” chairman Anthony Richmond-Watson said at its AGM.

Shares in Yule Catto have dropped almost two per cent in value, falling 4.25p to 238.5p.