29 July 2013 05:04 [Source: ICIS news]
SINGAPORE (ICIS)--Sika’s first-half net profit increased 13.2% year on year to Swiss francs (Swfr) 141.3m ($152m), with sales rising 4.0%, the Swiss specialty chemicals producer said on Monday.
Sales for the period stood at Swfr2.40bn, with operating profit up 11.4% year on year to Swfr220.2m, the company said in a statement.
"After a weather related slow start of the year our employees delivered an excellent second quarter with sales growth of 8.3% and a significant improvement of our margins,” Sika CEO Jan Jenisch said in the statement.
“Driven by the opening of 10 new factories in the last 12 months, the accelerated pace of expansion in the emerging markets progressed ahead of our expectations resulting in a 15.3% sales growth,” Jenisch said.
Further details on the company’s second-quarter financial results were not available.
In January-June this year, sales generated from the Asia-Pacific and Latin American regions both increased by about 8% year on year, it said.
“For the second half of 2013, Sika expects to see a continuation of the dynamic development in the emerging markets. Demand from Asia will remain strong, and Sika is projecting double-digit growth rates for Latin America,” the company said.
“On the other hand, developments in Europe are still uncertain,” it added.
Sika is projecting a slight improvement in profitability for the whole of 2013.
($1 = Swfr0.93)
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