Belgium´s Solvay reported a 6% decline in operating profit on deteriorating earnings from pharmaceuticals and chemicals. Surprisingly, earnings from plastics remained flat- pushing up profits higher than expected. Recurring earnings before interest and tax (REBIT) amounted to €292 mln (US$372.2 mln). Revenue rose 4% to €2.49 bln, Net profit fell 68% to €75 mln. High energy and raw materials costs squeezed chemical margins, while a weaker dollar to the euro limited sales growth across the company, but Solvay managed to push through prices for caustic soda and vinyls.
31-Oct-08 
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