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Lanxess optimistic about second half of 2016

10/08/2016
Lanxess optimistic about second half of 2016
Specialty chemicals company Lanxess has reported revenues of €1.9 billion for the second quarter of 2016, a decline of 7.7% year on year. However, its earnings before tax increased by 8.5% to €293 million.

The performance chemicals segment, which includes Lanxess’s leather business unit, posted sales revenues for the second quarter of €543 million, down by 1.8% compared to the same quarter in 2015. From this, though, this part of the business registered earnings before tax of €114 million, an increase of 3.6% year on year.

It said higher volumes, an improved product mix and favourable exchange rates had a positive impact on earnings and chairman, Matthias Zachert, said Lanxess is now “very optimistic” about the second half of 2016.


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