21 March 2013 16:47 [Source: ICIS news]
LONDON (ICIS)--Polish chemical producer Zaklady Azoty Tarnow (ZAT) saw its fourth-quarter 2012 net profit cut to zloty (Zl) 31.6m ($9.8m, €7.6m) from Zl 231m in the same quarter of 2011, with higher feedstock costs and market downturns both taking a toll, the group said on Thursday.
Sales revenues shrank 22.9% year on year to Zl 1.6bn from Zl 2.1bn, it added.
ZAT was also hit by a small fourth-quarter operating loss of Zl 2.0m, compared with the operating profit of Zl 192m that it enjoyed in the corresponding period of the previous year, the group said.
The closing quarter of 2012 saw ZAT's polyamide 6 (or nylon 6) business pressured by rising feedstock costs, it added.
“We estimate that this year should see no worsening of results in the fertilizer segment, but in the plastics segment, due to the increasing trend in raw material prices, we can expect [more] difficulties,” ZAT, also a caprolactam (capro) producer, said.
Another difficulty was a forced revaluation of carbon emission permits held by the company, ZAT said, without disclosing how much this had cost the company.
ZAT is using the name Grupa Azoty for marketing purposes, in advance of the formalisation of a group of that name that is being created in a merger and consolidation process.
($1 = Zl3.22, €1 = Zl4.18)
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections