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 ?xml:namespace>
Net sales rose 11% to $1.12bn, led by double-digit sales growths recorded in North America and increase in
“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
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)
To discuss issues facing the chemical industry go to ICIS connect
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections