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Lanxess Records a Decline in Second-Quarter Profits and Sales

1:07 AM MDT | August 12, 2009 | Deepti Ramesh

Lanxess has recorded a 69% fall in second-quarter net profits, to €17 million ($24 million), compared to the second quarter of 2008. Sales decreased by 30%, to €1.24 billion. Lanxess says that the second-quarter financial results were, however, an improvement from the first quarter of 2009. Sales in the second quarter increased by 17%, compared to the first quarter of 2009, due to a strong rebound in volumes, especially in the performance polymers business, the company says. And the net income for the second quarter was positive at €17 million...

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