Record profits for chemicals group DSM

9th February 2006, Comments 0 comments

9 February 2006, AMSTERDAM — The Heerlen-based chemicals and biotechnology group DSM booked the largest profits in its corporate history last year.

9 February 2006

AMSTERDAM — The Heerlen-based chemicals and biotechnology group DSM booked the largest profits in its corporate history last year.

The results were primarily due to cost savings and continued strong demand for fine chemicals and high value materials and were in-line with analyst expectations.

At EUR 527 million, the plastics-to-vitamins conglomerate nearly doubled its profits on turnover of EUR 8.2 billion (a rise of 5 percent on 2004).

"All divisions had strongly improved results,” DSM chief Peter Elverding said. He also announced that the positive climate has continued so far in 2006.

But there was no announcement of a shares buy-back scheme, as analysts had hoped for. As a result, DSM shares fell 1 percent when trade opened in Amsterdam.

[Copyright Expatica News + ANP 2006]

Subject: Dutch news

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