France’s Arkema swings to Q2 net loss on vinyl ops divestment

01 August 2012 06:53  [Source: ICIS news]

SINGAPORE (ICIS)--Arkema has recorded a second-quarter net loss of €12m this year, from a net profit of €184m in the same period last year, following the divestment of its vinyl business, the French chemicals firm said on Wednesday.

The company, which completed the divestment on 3 July this year, booked a €141m loss from discontinued operations in the June 2012 quarter, it said in a statement.

Sales for the period, however, grew by 15.4% year on year to €1.72bn, the company said in a statement.

Earnings before interest, tax, depreciation and amortisation (EBITDA) for the quarter slipped by 4.7% to €306m, it said.

($1 = €0.81)

By: Pearl Bantillo
+65 6780 4359

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