DSM expects 2008 op profit to exceed previous year

26 March 2008 08:23  [Source: ICIS news]

MUMBAI (ICIS news)--Netherlands-based producer DSM expects full-year 2008 operating profit before exceptional items to most likely exceed 2007's level despite the weakening dollar and increased raw material prices, it said on Wednesday.

For the first quarter of 2008, DSM expects operating profit before exceptional items to be around 20% higher than the corresponding period in 2007, the life and material science firm added.

"The firm demand and pricing strength seen in most of DSM's markets in the fourth quarter of 2007 has been sustained into 2008," it added.

"The current year has started strongly with firm demand being seen across most of our markets," said chairman Feike Sijbesma.

It added, that for the full year of 2007, DSM's strong market positions had enabled it to increase prices, particularly in the nutrition business.

"Profitability has benefited from a very good manufacturing and operational performance," DSM said. 

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Author: Aaron Rodrigues
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