24 April 2012 13:53 [Source: ICIS news]
HOUSTON (ICIS)--Stepan’s first-quarter net income rose 19% year on year to $22.3m (€16.9m), largely driven by higher sales volumes and higher prices in the company’s surfactants and polymers businesses, the US-based chemicals producer said on Tuesday.
Stepan’s sales for the three months ended 31 March increased by 10% year on year to $465.3m, the company said. Gross profit rose 24% to $76.8m.
First-quarter gross profit in surfactants – by far Stepan’s largest business – rose by 14% year on year to $54.0m.
Higher surfactants sales volume, improved product mix and the continuing recovery of higher raw material costs in selling prices all contributed to the improvement. Regionally, North America, Europe and ?xml:namespace>
In polymers, Stepan’s gross profit increase by 57% to $17.4m.
The segment’s growth was led by increased demand for polyol in Europe, where volumes rose 12% year on year, and
In Stepan’s specialty products segment gross profit rose 57% to $6.3m, mainly because of an acquisition last year.
Meanwhile, Stepan’s methyl ester plant in
Also, Stepan’s polyol plant expansion in
($1 = €0.76)
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