08 August 2012 06:38 [Source: ICIS news]
SINGAPORE (ICIS)--Brenntag’s net profit in the second quarter grew by 23.1% year on year to €81m ($100m), backed by a 14.6% increase in sales, the German chemical distributor said on Wednesday.
Sales in the second quarter stood at €2.49bn from €2.17bn in the corresponding period a year ago, the company said in a statement.
Its operating earnings before interest, tax, depreciation and amortisation (EBITDA) were up by 10.0% year on year to €184.4m in the second quarter of 2012.
“Brenntag operates successfully even in the current challenging economic conditions,” Brenntag CEO Steven Holland said in the statement.
“A balance of organic growth, including efficiency gains, and acquisitions have placed our highly diversified group in a strong position to weather the current worldwide economic challenges, which for some regions became more pronounced in the course of 2012,” he added.
For the first half year of 2012 Brenntag recorded a 13.4% increase in sales to €4.88bn while operating EBITDA grew 9.2% to €355.9m year on year, the statement said.
($1 = €0.81)
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
Asian Chemical Connections