Profits soar at EMS Chemie
Swiss speciality chemicals group, EMS Chemie, beat analysts' expectations, boosting net profits by 20.6 per cent to SFr253 million ($147.5) last year. Sales rose 6.8 per cent to SFr1.16 billion.
The canton Zurich-based company had been expecting weaker growth over 2000, but attributes the better than expected performance to the successful launch of new products.
The company also saw a significant improvement in its engineering business in Asia, which boosted sales.
EMS Chemie, which is run by the right-wing Swiss politician Christoph Blocher, said it expected to maintain its high operating profit and increase sales in 2001, despite worsening economic conditions in the United States and Asia.
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