Clariant: first-half results improve; merger on track.
(CercleFinance.com) - Clariant has increased sales and profitability in the first half of the year and remains on track to meet its 2017 outlook, the Swiss specialty chemicals group said on Thursday.
The firm said sales amounted to 3.13 billion Swiss francs in the first six months of the year, compared to 2.89 billion Swiss francs one year ago, corresponding to a 9% growth in local currency.
Organic growth amounted to 5%, driven by higher volumes.
In parallel, net income soared by 20% in Swiss francs to 153 million.
For 2017, Clariant said it is confident to be able to achieve growth in local currency, as well as progression in operating cash flow, in spite of a continued challenging economic environment.
And last but not least, the planned merger of equals with US rival Huntsman is showing continued progress and proceeding as planned with an unchanged closing targeted for December 2017/January 2018, the company said.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The firm said sales amounted to 3.13 billion Swiss francs in the first six months of the year, compared to 2.89 billion Swiss francs one year ago, corresponding to a 9% growth in local currency.
Organic growth amounted to 5%, driven by higher volumes.
In parallel, net income soared by 20% in Swiss francs to 153 million.
For 2017, Clariant said it is confident to be able to achieve growth in local currency, as well as progression in operating cash flow, in spite of a continued challenging economic environment.
And last but not least, the planned merger of equals with US rival Huntsman is showing continued progress and proceeding as planned with an unchanged closing targeted for December 2017/January 2018, the company said.
Copyright (c) 2017 CercleFinance.com. All rights reserved.