Cognis announces Q1 results
27/05/2008
Specialty chemicals supplier Cognis has increased sales by 7.1% in the first quarter of 2008, with a total of €953 million. The company’s three main business units—care chemicals, nutrition & health and functional products—all increased sales by, Cognis said, focusing on the “innovation-driven growth markets of wellness and sustainability”.
Chief executive, Antonio Trius, said on announcing the results: “Considering the challenging situation we have been facing, we achieved our expectations. We performed well in the first quarter of 2008, with increased sales across all our core business areas. As 2008 continues, we expect the market environment to stay challenging, but we are well prepared. We are confident that further price increases and stringent cost management will support us to remain on track and to achieve our targets.
The sales of the former process chemicals business unit—which has been trading as a wholly owned subsidiary, Pulchra Chemicals, since July 2007—fell by 9.6% to €56 million. Cognis said this decrease was because of lower demand for products from the leather and the textile industries and that market conditions were “adverse in all regions”.
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