Shrinking demand in industries as diverse as aerospace, oil services and cosmetics pushed Elem­entis, the chemicals group, to a first-half loss as it digested the costs of closing one of its factories near Middlesbrough.

Sales fell at all three main divisions, with the chrom­ium division worst affected, where they tumbled 49 per cent in constant currency terms. Sales at the division were hit by weak demand for chrome oxide coatings in the aerospace industry, and sales at the European chromium facilities were affected by the return of Chin­ese rivals after a hiatus during the Beijing Olympics.