Rhodia reports surge in net earings, raises targets

4th November 2010, Comments 0 comments

French chemicals group Rhodia on Thursday reported a four-fold jump in third quarter net earnings to 56 million euros (80 million dollars) and raised its operating target for the full year.

The company said sales in the July-September period soared 30.6 percent to 1.36 billion euros.

"The performance of the group since the start of the year enables us to raise our targets," the company said in a statement.

"We foresee an underlying operating profit of 900 million euros in 2010."

Previously, Rhodia had said it expected operating profit, which excludes income from non-core activities, to come to 800 million euros this year.

Operating earnings came to 682 million euros in the first nine months of the year and 487 million euros for all 2009.

© 2010 AFP

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