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Regions :: Western Europe :: Switzerland
Clariant Reports Higher Sales but Profits are Down on the Back of Strong Swiss Currency and Softening Demand
12:55 PM MDT | November 1, 2011 | Natasha Alperowicz
Clariant today reported a 9% rise in revenues for the third quarter to SF1.865 billion ($2.16 billion). Sales included SF356 million contribution from the recently acquired Süd Chemie. In local currencies, sales grew by 25% but in Swiss francs, year-on-year sales were only 9% higher as the currency continued to strengthen in the first half of the third quarter. Sales growth was driven by higher prices and Süd Chemie. Excluding Süd-Chemie, sales increased by 5%, driven by a 9% increase in sales prices, while volumes decreased 4% compared...
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