DuPont profits rise
Despite the fact that results for the fourth quarter were disappointing, showing a drop in earnings due to lower sales, DuPont Co., has reported an increase in profits for the full fiscal year to almost $1.8 billion. This has been attributed to a re-structuring of the company, including the sale of the Invista textiles business.
Net income fell to $278 million compared with $636 million in the previous year 2003, due largely to a fall in sales from $6.5 billion $6 billion. Net sales for the full year rose to $27.3 billion from $27 billion in 2003. DuPont’s earnings in Q4 rose 28% to $371 million.
“The fourth quarter caps a year of improved operating performance by our company, delivering broad-based revenue growth, cost productivity and margin improvement," said Charles O. Holliday, Jr., DuPont chairman and chief executive officer. "We are executing our strategies to put our science to work, to go where the growth is, and to leverage the global capabilities of our company."
