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Dow Chemical Company net profit increased to US$2.32bn

February 08/2011

(Arabian oil and gas) -- Dow Chemical Company net profit in 2010 has increased to US$2.32bn, up significantly from $676m in 2009, the company said in statement. The fourth quarter 2010 surged to $513m (?369m), up from $178m in the same period in 2009.

Though the company posted 34% profits increase, it is lower than Saudi Arabia Basic Industries Corp (SABIC), which posted a year over year net profits of $5.75bn, a 138% increased compared to 2009.

Dow attributed this profit increase to the improvement of margins for plastics, performance products and performance systems.

The company continued to invest for growth in 2010. R&D expenses rose 6% versus pro forma spending in the prior year, reaching nearly $1.7 billion.

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