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DSM reports 28 percent rise in 3Q profits

DSM reports 28 percent rise in 3Q profits

DSM NV, the Dutch chemicals maker, reported a 29 percent rise in third quarter net profit on Monday on the back of higher selling prices for vitamins and fertilizers.
Net profit at the Heerlen, Netherlands-based company rose to 182 million euros ($229 million), from 142 million euros in the same period a year ago. Sales increased 9 percent to 2.36 billion euros ($2.97 billion).
Chief Executive Feike Sijbesma said the company has started to see signs of weakening demand due to the global economic slowdown. "Of course nobody is immune," he said in a statement.
However, he said DSM still expects to report record earnings this year, and estimated the company will report full year operating profit of around 1 billion euros ($1.26 billion).


Updated : 2021-02-27 00:45 GMT+08:00