Solvay profits up 8% on chemicals, plastics sales

26 October 2007 08:21  [Source: ICIS news]

SINGAPORE (ICIS news)--Solvay has  posted an 8% year-on-year rise in recurring third-quarter earnings before interest and tax (REBIT) to €309m ($441.4m) on continued growth in its chemicals and plastics segments, the Belgium-based company said in a statement.

 

Third-quarter sales for the company rose 4% to €2.4bn, Solvay said.

 

REBIT for the company’s chemicals segment increased 5% year on year during the period to €87m, with the firm’s fluor chemicals commodities sector continuing to face heavy pressure, the company added.

 

Chemicals sales rose 2% to €761m.

 

The plastics division saw REBIT rise 7% year on year to hit €104m in the quarter, with specialty polymers seeing higher sales in Asia, the company said.

 

Pharmaceuticals REBIT, however, fell 15% year on year to €99m, despite sales being up 11% to €683m, it added.  

 

($1 = €0.70)

 

By: Joyce Khoo
+65 6780 4359

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