Dutch DSM Q2 net profit more than doubles to €392m

02 August 2011 06:56  [Source: ICIS news]

SINGAPORE (ICIS)--Netherlands-based specialty chemicals firm DSM said on Tuesday its second-quarter 2011 net profit more than doubled to €392m ($560m) from €149m in the same period last year, partly on the strength of its materials sciences operations.

Net sales for the three months-to-June period, meanwhile, slipped 4% year on year to €2.30bn, DSM said in a statement.

The company pointed to “very solid results in materials sciences due to pricing strength and volume growth” in the second quarter.

“These results include a positive contribution from Martek but also the negative impact of currency effects and higher raw material and energy costs,” DSM said.

DSM has acquired US firm Martek Biosciences in February this year.

In the first six months of the year, DSM said its revenue was flat year on year at €4.64bn, but its net profit doubled to €558m, DSM said.

The company characterised 2011 as “a strong year”.

($1 = €0.70)

By: Pearl Bantillo
+65 6780 4359

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