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Profits up at Ems Chemie

Christoph Blocher, chief executive of Ems Chemie Keystone

The Specialty chemicals group, Ems Chemie, run by the right-wing populist Swiss politician Christoph Blocher, revealed that its first-half net profit rose 18 per cent to SFr123 million ($73.83 million). The improvement was on the back of an improved financial report.

Its first-half financial result rose 30 per cent to SFr52 million, but the group didn’t specify the reasons for the increase.

Net sales in the period rose 12 per cent to SFr644 million. Excluding factors which affected its consolidated results, sales would have risen four per cent.

The Swiss-based company said it expected sales to continue to grow by double digits for the rest of 2001.

But it also said that operating profit measured as EBIT (earnings before interest and taxes) would “as expected – not keep pace with the growth in sales, but would reach the level of the previous year”.

Ems makes a variety of products for the plastics, pharmaceuticals and automotive industry, including triggers for airbags.

Christoph Blocher controls more than 80 per cent of the voting rights.

swissinfo with agencies

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SWI - a branch of Swiss Broadcasting Corporation SRG SSR