Clariant registers 5% drop in sales
Swiss specialty chemicals company Clariant posted first quarter sales 5% down year-on-year at SF2.398 billion. The results were in line with analyst expectations, however, and represented a 7% improvement over the fourth quarter of 2001.
Textile, Leather and Paper Chemicals, Clariant’s largest division, was one of the worst performers, with sales down 9% to SF692 million. However, the company reported that sales were beginning to improve, especially in leather chemicals. Other divisions such as Life Science & Electronic Chemicals saw sales improve slightly (up 3%), but Functional Chemicals, the second largest division, posted a 6% pct sales decline to SF541 million.
Clariant is undergoing a programme of restructuring which it claims is already paying off in terms of better results. The company forecasts higher profits for the full year based on an expected economic recovery in the second half of the year.
