US Nalco Q4 net profit jumps 44% on higher sales

02 February 2011 06:03  [Source: ICIS news]

SINGAPORE (ICIS)--Nalco’s fourth-quarter net profit jumped 44% year on year to $55.4m (€40m) as sales improved across its three businesses, the US water-treatment chemicals producer said on Wednesday.

Net sales rose 11% to $1.12bn, led by double-digit sales growths recorded in North America and increase in Asia, the firm said in a statement.

“Global upstream markets drove strong energy services sales growth, while in water services, heavy markets grew at twice the global rate of light markets,” it said.

“Paper services sales growth was led by greater than 20% growth in Asia Pacific, followed by high single-digit growth in both Latin and North America,” Nalco said.

The company’s full-year 2010 net profit more than tripled to $196.2m, from $60.5m in 2009, while net sales rose 13% to $4.25bn.

"Our strong 2010 sales were driven by a recovery of the global economy and our differential investment in BRIC+ (Brazil, Russia, India and China) growth regions," said Erik Fyrwald, Nalco chairman and CEO.

Nalco said it hopes to deliver a 6-8% growth in organic sales this year, Fyrwald said.

The company said it had an 11% growth in organic sales in 2010.

($1 = €0.72)

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By: Nurluqman Suratman

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