02 March 2011 07:33 [Source: ICIS news]
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SINGAPORE (ICIS)--French specialty chemicals firm Arkema said on Wednesday it swung into a net profit of €58m ($79.5m) in the fourth-quarter of 2010 against a €20m loss in the previous corresponding period as sales jumped 32.4%.
Sales for the three months ending December 2010 grew to €1.43bn from €1.08bn in the previous corresponding period, due to “significant price increases reflecting Arkema’s ability to pass-on higher raw material costs”, the company said.
Its earnings before interest, tax, depreciation and amortisation (EBITDA) for the quarter more than doubled to €166m.
Meanwhile, the company’s industrial chemicals business had a 48.6% surge in sales to €786m, with EBITDA soaring 76.6% to €136m, partly helped by acquisitions, it said.
Its performance products business recorded a 23.4% increase in sales to €390m, with an EBITDA of €37m, up 27.6% year on year.
Its vinyls products, meanwhile, trimmed its fourth-quarter loss to €10m from €18m in the previous corresponding period, with sales rising 8.1%, Arkema said.
For the whole of 2010, Arkema posted a net profit of €347m against a net loss of €172m in 2009, with sales up 32.9% year on year to €5.91bn, it said.
EBITDA last year surged to €790m from €310m in 2009, it said.($1 = €0.73)
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