A continuous process for the production of an elastomer-modified thermoplastic is disclosed. The process entails (i) obtaining graft elastomer (D) having residual moisture content of 1 to 50 wt. %, particularly 5 to 50 wt. %, particularly preferably 10 to 40 wt. %, (ii) introducing (D) and thermoplastic resin (B) through an inlet to a reactor operating under conditions calculated to melt (D) and (B) and to remove organic volatile components C) to produce a molten blend, the reactor being equipped with a plurality of kneading bars, that convey a portion of the molten blend towards the reactor inlet.