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LANXESS Q3 net profit surges to ?118m on strong demand

November 10/2010

(ICIS) -- LANXESS reported a third-quarter net profit of ?118m, a sharp increase from ?23m in the same period last year, due to strong demand for its synthetic rubber and high-tech plastics, Axel Heitmann, chairman of the board of management, said on Wednesday.


The German specialty chemicals producer's sales in the July-September period rose 35% year on year to ?1.85bn, while earnings before interest, tax, depreciation and amortisation (EBITDA) pre-exceptionals rose 71% to ?244m.


Group sales were boosted by higher volumes in key customer industries, positive currency effects and price increases, which fully-offset higher raw material costs, Heitmann said.


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