Total's chemicals business sees a four fold rise in Q2 adjusted net operating profit

02-Aug-10

Europe’s third-biggest oil company Total SA, has reported a 72% increase in Q2 profit after projects started last year were ramped up and on significant improvements across all of its businesses. It’s chemicals business has grown four times in Q2 adjusted net operating profit to €274 mln. The growth is driven by a 25% rise in sales and an improvement in margins as the markets saw an overall improvement. Cost-cutting measures have also contributed to the segment’s strong performance. Sales from Total’s base chemicals segment grew by 29% to €2.79 bln, while sales of specialty chemicals increased by 17% to €1.78 mln.