Ciba fourth-quarter net profit flat
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]