23 May 2008 13:35 [Source: ICIS news]
LONDON (ICIS news)--Helm hit a new high in 2007 with almost all operations contributing to a 74% increases in earnings before interest, tax, depreciation and amortisation (EBITDA) to €118m ($184m), the Germany-based chemicals distributor said on Friday.
Net profit was €66m compared with €33m in 2006, while sales for the year were 33% higher at €7.75bn.
The company said it would continue to expand in 2008 with new sales offices in ?xml:namespace>
It will distribute new volumes of methanol, dimethylformamide and LAB (linear alkyl benzene) from
A planed investment of €265m will help secure its market position, the company said in a statement.
Despite projections of a slowdown in chemicals growth in German by the trade group, VCI, Helm said it expected first-half 2008 sales to grow 14% to reach €4.3bn.
"The group’s profit for the year should even rise slightly more, since the increases in the fertilizer and crop protection business units have partly been quite spectacular,” the company added.
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