US DuPont expects to boost profit by 20%/year through 2012

03 November 2009 15:38  [Source: ICIS news]

DuPont expects to boost profitsTORONTO (ICIS news)--DuPont expects to deliver average 20%/year earnings per share growth through 2012 on the strength of four megatrends, the US chemicals major said on Tuesday.

The target would be achieved through 10% top-line compound annual growth, as well as $2.0bn (€1.4bn) in fixed cost and working capital productivity gains through 2012, chief executive Ellen Kullman said during the company’s investor day.

DuPont’s 2009 full-year earnings per share are expected at $1.95-2.05, excluding estimated significant items of $0.15/share. For 2010, DuPont targets earnings per share of $2.10-2.40.

To achieve its 2012 target, DuPont would focus on four main megatrends in its business: food productivity; protection of people and the environment; reduction in the dependence of fossil fuels; and growth in emerging markets, it said.

DuPont's share price was up 1% at $32.59 in early morning trading in New York.

($1 = €0.68)

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US DuPont expects to boost profit by 20%/year through 2012
By: Stefan Baumgarten
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