15 November 2007 10:15 [Source: ICIS news]
MUMBAI (ICIS news)--French chemicals producer Arkema posted a 50% year-on-year rise in third-quarter recurring operating income to €75m ($110.29m), due to a growth in volumes and productivity gains, the company said on Thursday.
For the period, the company posted a 26% rise in third-quarter earnings before interest, depreciation and amortisation (EBITDA) to €127m, while net sales fell 0.5% to €1.38bn.
In its industrial chemicals segment, Arkema's EBITDA totalled €75m for the quarter, up 21% from the same period a year ago, while sales rose 4.3% to €603m.
The company's net income for the third quarter was €37m, up 68% from a year ago, the company said.
EBITDA for full-year 2007 was expected to top €510m and on that basis the company set itself an objective of 10% growth in earnings for 2008, said Thierry Henaff, Arkema's CEO.
Shares of the company were trading at €43.45 on Euronext, down 0.11% in early morning trade.
($1 = €0.68)
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