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Kemira Reports Higher Net Profits but Currency Effects Dent Operating Result

8:55 AM MDT | July 28, 2011 | Ian Young

Kemira posted a 16% hike in second-quarter net profits, to €32 million compared with the same period of last year on sales up slightly, to €549 million. Pretax profits increased 9%, to €41 million but operating profits declined 8%, €37 million. "Raw material prices continued to increase during the second quarter and together with higher freight and energy costs, had a negative effect on operating profits," Kemira president and CEO Harri Kerminen says. "However, higher revenues from increased volumes and implemented sales price...

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