Sales up 8% thanks to strong growth in Europe and North America
Speciality chemicals supplier Clariant has posted Q3 sales of CHF1.709bn, a growth of 8% in local currencies on the previous year. Nine month sales grew 14% in local currencies.
The growth was attributed to particularly strong sales in Europe and North America, which have taken longer to recover from the financial crisis than emerging markets but are now seeing a catch up in demand, according to the company. Clariant also compensated for a 2% increase in raw material costs by increasing sales prices by 1%.
“Sales growth was solid, profitability improved and cash flow remained strong,” commented Hariolf Kottmann, Clariant ceo. “In the traditionally weaker fourth quarter, we forecast trading conditions to remain unchanged. By the end of 2010, a solid basis for Clariant will have been established that allows us to shift our focus from restructuring to profitable growth.”