Economic Gloom Weighs On Sales and Earnings

More Europe-based chemical companies reported lower second-quarter profits and, in some cases, losses, reflecting the economic challenges faced by the region and the rest of the world. Restructuring costs also weighed on earnings. Positive currency effects and hikes in selling prices enabled most firms to post higher sales. K+S Group was an exception, reporting significantly better earnings and revenues due to strong demand for potash from agricultural markets. Companies generally maintained their full-year sales and earnings guidance, despite a cautious outlook...

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