Perstorp profits slide

24 June 1996 00:00  [Source: ICB]

Struggling to shake off weaker business conditions, Swedish plastics group Perstorp has recorded a marginal slip in its financial results for the eight months to the end of April.

Pre-tax profits of SKr456m ($362m) were down 7% on the same period a year earlier. Group sales remained unchanged at SKr8551m.

Earnings included a non-recurring revenue of SKr25m and considerable investment costs in connection with the establishment of Perstorp US Flooring's operations.

PERSTORP PERFORMANCE BY DIVISION (SKRM)
	Turnover	%ch	Earnings	%ch
Chemitec	880	(2)	38	9
Plastic systems	912	10	71	63
Speciality chemicals	1427	(7)	295	8
other	5322	na	149	na
Total	8551	0	552	(22)

Perstorp Plastic Systems noted improved earnings as a result of increased efficiency, lower raw material prices and higher volumes. With improved sales of formaldehyde, Perstorp Speciality Chemicals experienced earnings growth, however, a slackening of business conditions has been noted during recent months.

Perstorp Chemitec's earnings increased, pulled along by developments including a 51% share in a joint venture with Moràvske Chemiké Zévody of the Czech Republic to market phenol-based products with Perstorp technology.

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