Ciba fourth-quarter net profit flat

8th February 2008, Comments 0 comments

Ciba Specialty Chemicals AG said on Friday its fourth-quarter net profit was flat due to restructuring and tax charges.

8 February 2008

BASEL - Ciba Specialty Chemicals AG said Friday its fourth-quarter net profit was flat due to restructuring and tax charges.

Net earnings for the October-December quarter were CHF84 million - the same as for the year-earlier period.

Sales rose 2% to CHF1.58 billion francs from CHF1.55 billion in the fourth quarter of 2006.

The Basel-based producer of chemicals to enhance plastics, paper, automobiles, buildings and other products said sales in Asia grew strongly, while business in Europe and the Americas was largely unchanged.

Full-year net profits reached CHF237 million francs, compared with a net loss of CHF41 million in 2006, the company said.

Ciba shares were up 2.25% at CHF43.72 francs in Zurich.

[Copyright ap 2008]

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