NewsFlashBayer Q1 EBIT tumbles 32% on poor MaterialScience division

29 April 2009 07:08  [Source: ICIS news]

SINGAPORE (ICIS news)--Bayer has reported a 32.1% year-on-year decline in its first quarter earnings before interest, tax (EBIT) and special items to €1.02bn ($773m) due to a slump in business at its MaterialScience division, the German specialty chemicals maker said on Wednesday.

"While CropScience and Pharmaceuticals continued on a path of growth, the slump in business at MaterialScience also left a distinct mark on sales and earnings of the Bayer Group," said Bayer management board chairman Werner Wenning.

(€1 = $1.32)

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