Germany’s Brenntag posts 11.8% drop in Q1 net profit; sales up 1.4%

08 May 2013 07:05  [Source: ICIS news]

SINGAPORE (ICIS)--Brenntag’s first-quarter net profit declined by 11.8% year on year to €69.7m ($91.7m), despite a 1.4% increase in sales, the German chemical distributor said on Wednesday.

Sales for the March quarter stood at €2.42bn, while its operating earnings before interest, tax, depreciation and amortisation (EBITDA) declined by 4% to €164.7m, Brenntag said in a statement.

“The global economic situation is even more demanding and economic development is still muted,” said Brenntag CEO Steven Holland in the statement.

($1 = €0.76)

By: Pearl Bantillo
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