Textile and leather chemicals sales bolster third quarter Clariant results
The Swiss specialty chemicals producer Clariant has posted a 9% rise in sales on a local currency basis for the third quarter 2002, to CHF2.3 million ($1.5 million), with nine monthly sales increasing 4% to CHF7.4 million.
Quarterly sales of the largest division of Textiles, Leather and Paper Chemicals saw a slight (1%) increase in local currencies. In Swiss francs, however, they declined 7% to CHF2.1 million from CHF2.2 million seen a year earlier. Sales in leather chemicals improved in the automotive sector, while those stemming from its textile dye and textile chemical business in Asia were described as ‘satisfactory’.
"Given the present economic situation, we expect that operating margins for fiscal year 2002 will not be significantly higher than those for 2001," commented Clariant CEO Reinhard Handte. "The net result will improve and definitely be in the profit zone; it will exceed the comparable year-back figure. Our most important goals continue to be cash flow generation and reduction in debt to under four billion Swiss francs."
