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European Specialty Earnings are Mostly Up

1:17 PM MST | March 3, 2008 | Chemical Week Editorial Staff

Late-reporting European specialty chemical firms mostly recorded a rise in full-year 2007 earnings, helped by good demand. Croda’s net income rose 37%, to £50.1 million ($99 million), excluding a £37.5-million gain in 2007, and a £28.5-million charge in 2006. Sales soared 85%, to £886 million. Results include Croda’s purchase of Uniqema in June 2006. “Record results have been achieved despite a strong currency headwind and a further rise in raw material costs,” says chairman Martin Flower. “The integration of...

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