The specialty chemicals group, Clariant, has come through with what traders describe as "uninspiring" half year figures.This content was published on August 29, 2000 - 10:20
First-half net profit edged up to SFr281 million ($164 million) from SFr277 million for the same period last year.
The Basel-based company says profit margins have been hit by the cost of its takeover of the British chemical company, BTP.
However, it said it expected an improved situation for the second half of the year.
"Clariant is forecasting a positive sales trend for the second half of 2000. However, it expects the operating margin to be slightly lower than that in the first half of the year," said its interim results report.
The company expects sales for its key textile, leather and paper chemicals division to improve because of better market conditions in the United States.
It says it expects profit to increase sharply in 2001 as the BTP acquisition is fully consolidated.
In July, Clariant reported an increase in sales of around 17 per cent to SFr5.3 billion including BTP's turnover.
This article was automatically imported from our old content management system. If you see any display errors, please let us know: firstname.lastname@example.org