21 February 2012 06:39 [Source: ICIS news]
SINGAPORE (ICIS)--Brenntag posted a surge in its profit after tax for the full year 2011 to €279.3m ($367.5m) from €146.6m in the previous year on the back of higher sales and strong volumes, the German chemical distributor said on Tuesday.
Sales in 2011 increased by 13.5% year on year to €8.7bn on higher selling prices and stronger volumes, Brenntag said in a statement.
Brenntag’s operating earnings before interest, tax, depreciation and amortisation (EBITDA) grew by 9.7% year on year to €660.9m in 2011, it added.
“With the expectation of a slower but nevertheless growing world economy and the continuation of the positive trends in the chemical distribution industry, excluding exchange rate effects, Brenntag expects a continued positive earnings development in 2012,” it said.
($1 = €0.76)
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