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Lenzing's Profits Rise on Strong Fibers Demand; Expects Growth to Slow in Second Half

2:25 AM MDT | August 24, 2010 | Kerri Walsh

 Lenzing's first-half 2010 results soared on higher fiber quantity, the price dynamics of global markets, the impact of acquisitions, and the start up of new capacity. Net income jumped to €80.4 million, from €5.9 million, on sales up 44%, to €847 million. Ebit rose sevenfold, to €108.6 million.  Lenzing's 2010 performance is off to a good start.  Net income exceeds the total annual profits of 2008 and 2009. "The half year result shows that the company's anti-cyclical investment strategy of the years 2008 and 2009...

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