ICI's Third-Quarter Income Falls

ICI’s net income including special items fell about 41%, to £98 million ($204 million), on sales from continuing operations up 5%, to £1.26 billion. “The third-quarter was particularly strong with good underlying sales performances from specialty starches, specialty polymers, and decorative paints in Asia and Latin America,” says CEO John McAdam. European market conditions, however, were “varied;” Asia and Latin America were strong; but North America, particularly paints, was challenging, McAdam says. Paint’s profits rose about 8%, to £110 million...

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