Spain dampens HCH performance

14 March 1994 00:00  [Source: ICB]

HOLLIDAY CHEMICAL HOLDINGS finished 1993 better than it had predicted in November with pre-tax profit rising 6% to £13.1m ($19.5m) from £12.4m the previous year. Sales grew 8% to £105.2m from £97.1m.

Chairman Michael Peagram said the results would have been better but for price competition which affected Holliday's Spanish subsidiary and James Robinson's hair dye sales.

HCH Spain operating profit fell 19.6% to £1.5m while James Robinson dropped 18.8% to £2.8m. Holliday Dyes and Chemicals grew 14.7% to £4.7m, William Blythe rose 10.2% to £4.3m and HCH France increased 51% to £1.5m.

Peagram said that HCH is 'likely to resume stronger growth in 1994'. He added that performance in the first two months was on target and noted that the group will get an additional full year's benefit in excess of £2m from exchange rates in the current year.

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly