DSM shows strong performance
Dutch specialty chemicals company DSM has realised a substantial growth of both turnover and profits in the third quarter. The company confirmed its earlier expectation that 2011 would be “a strong year.”
DSM’s operational result was at 231 million euros in the third quarter compared to 169 million euros in 2010, while analysts expected about 206 million euros. Turnover increased by 14 percent to 2.3 billion euros compared to 2.04 billion in 2010. Net profit increased by 150 percent to 171 million euros, while analysts had expected no more than 154 million.
CEO Feike Sijbesma said that the company’s strong performance was achieved despite the negative influence of a very strong Swiss franc and a weak US dollar.
Many of the products of DSM’s showpiece subsidiary Nutrition vitamins are manufactured in Switzerland.
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