US Ecolab's Q1 net income up 40% on record sales

01 May 2012 15:27  [Source: ICIS news]

LONDON (ICIS)--Ecolab’s adjusted first-quarter net income rose by 40% year on year to $150.3m (€114.2m) on the back of record sales, the US specialty cleaning chemicals maker said on Tuesday.

The adjusted earnings take into account Ecolab’s takeover of US specialty chemical company Nalco in 2011.

Net sales for the three months ending 31 March 2012 rose by 85% to $2.81bn, Ecolab said.

CEO Douglas Baker Jr said, “the 'new' Ecolab is off to an excellent start. Our team did a great job successfully managing the business and simultaneously made great progress against our integration and synergy objectives, exceeding both. Most impressively, our team also delivered record new business gains”.

“As a result, our top line momentum remains very strong. Sales grew in every segment and in every region,” he added.

($1 = €0.76)

By: Leigh Stringer
+44 208 652 3214

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