18 July 2012 13:35 [Source: ICIS news]
HOUSTON (ICIS)--Honeywell’s second-quarter profit in its performance materials and technologies segment rose 25% year on year to $350m (€284m), mainly because of higher revenues from the licensing of petrochemical technologies, the US-based diversified industrial group said on Wednesday.
Segment sales for the three months ended 30 June were up 10% year on year to $1.55bn, driven by licensing revenues of Honeywell’s UOP petrochemicals technology unit, strong resins and chemicals volumes, and the acquisition of a phenol plant, the company said.
The segment margin rose to a record 22.6%, from 20.0% in the 2011 second quarter.
Honeywell is focused on aerospace, automation and control, transportation systems, and performance materials and technologies.
The company’s overall second-quarter net income rose 11% year on year to $902m, with earnings per share from continuing operations up 14% to $1.14. Second-quarter sales were up 4% to $9.44bn.
($1 = €0.81)
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