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People & Business :: Companies
Lenzing's Profits Rise on Strong Fibers Demand; Expects Growth to Slow in Second Half
3:05 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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