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Lower sales volumes in Europe contribute to decline in Clariant's third-quarter profits

8:49 AM MDT | October 31, 2012 | Sotirios Frantzanas

Clariant says its sales increased 3% in the third quarter of 2012, to 1.92 billion Swiss francs ($2.07 billion), compared with SF1.86 billion in the third quarter of 2011. Net and operating profits, however, decreased 39% and 13% year-on-year (YOY), to SF49 million and SF96 million, respectively. Higher financial costs and unfavorable foreign exchange rate effects drove the decrease in profits, the company says. Clariant's third-quarter performance was also impacted by continued instability in the global economy and the fact that, unlike in the second...

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