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Arkemas adjusted net profit in the third quarter edged up by 1.56%

November 09/2011

(ICIS) -- Arkemas adjusted net profit in the third quarter edged up by 1.56% year on year to ?130m ($181m) as stronger product prices helped offset spikes in raw material costs and a one-off charge, the French specialty chemicals firm said on Wednesday. The third-quarter results included a non-recurring charge of ?27m related to the acquisition of Total's specialty resins businesses, the company said.


Arkemas revenues in the July-September period grew by 18.6% year on year to ?1.85bn, while earnings before interest, tax, depreciation and amortisation (EBITDA) increased by 6.91% to ?263m, the company said in a statement.


The companys financial performance for the quarter was within expectations, said Thierry le Henaff, chairman and CEO of Arkema. This performance was boosted by strong growth in Asia, a region that now accounts for 20% of our sales, and new markets developed with our performance polymers, in particular in solutions for sustainable development, he said.


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