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Arkema's Profits Recover on Higher Volumes
4:33 AM MDT | May 11, 2010 | Kerri Walsh
Arkema's first quarter sales and earnings rose on high volumes and cost cutting measures during the past year. Net income was €40 million, compared to a €35-million loss in the year-ago period. Sales jumped 20%, to €1.3 billion on a 20% rise in volumes. Ebitda more than doubled, to €137 million. "Ebitda is back at levels close to pre-crisis, although volumes are still lower," says CEO Thierry Le Henaff. Asia was a primary driver of growth, Le Henaff says. Sales from the region grew 35% during the quarter, he says. ...
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