Third-Quarter Sales Rise but Raw Material Costs Dent Profits

Leading Europe-based chemical manufacturers posted higher sales for the third quarter of 2011 compared with the corresponding period of 2010, although most companies confirm that the worsening global economic climate has started to affect their business. Third-quarter profits were under pressure from rising raw material costs, and earnings growth depended largely on firms’ ability to pass higher costs on to their customers. Farm chemical companies Yara International and Syngenta were the star performers due to strong demand in agricultural markets. AkzoNobel...

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