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Nonrecurring items dent Kemira's net profits; seven sites to be closed or sold

7:05 AM MDT | October 24, 2012 | Sotirios Frantzanas

Kemira says its sales increased 2% in the third quarter of 2012, to €567.2 million ($735.5 million), compared with €558.3 million in the third quarter of 2011. Net profits and earnings per share (EPS), however, shrank to €1.1 million and €0.00/share in the third quarter of 2012, compared with €32.9 million and €0.21/share in the same period of the prior year, respectively. The decreases in net profits and EPS were mainly because of nonrecurring items totaling €46 million that were mostly related to Kemira's restructuring program...

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