Global chemicals company Elementis (LON:ELM) took a tumble as it issued another profit warning.
The latest warning on profits was milder than June's, with the company merely indicating that results for 2015 will be at the lower end of the range of market expectations.
Shares were off 6.7% at 220.9p in mid-morning trading.
Putting a positive spin on things, the company said the year-end cash balance is likely to be higher than the US$64.2mln it had tucked away in the vaults at the end of 2014.
Looking towards 2016, management expects the Specialty Products to do better “based on its strong and diverse market positions, new product launches and resilient contribution margins”.
The US-based Chromium division, which produces a wide range of chromium chemical products, has a slightly more mixed outlook, thanks in part to the strength of the dollar.
The division also enjoyed a one-off boost of US$5mln or so from a legal settlement and property lease renegotiations, which will make it harder for the division to top this year's performance.