April 2, 2008

DuPont to double earnings growth rate in three years

At a conference with security analysts today, DuPont reviewed its accelerated growth plan, designed to nearly double earnings growth rate over the next three years.

Executive vice president and chief financial officer, Jeffrey Keefer, said DuPont's competitive advantage is new product innovation. He added that the company would continue to execute growth strategies while maintaining financial discipline and increasing productivity gains across the company.

The actions DuPont is taking are expected to increase the company's revenue growth rate from 5 percent to about 7-9 percent per year, including 1-2 percent from bolt-on acquisitions, Keefer said.

Based on current plans, DuPont projects it can achieve earnings per share growth of 10 percent or more, on average, between 2008 and 2010.

Keefer said the company's goal is to achieve 2010 earnings per share within a range of US$4.05 to US$4.30.

In 2007, the company earned US$3.28 per share, excluding net significant item charges of US$.06 per share.

The company intends to capitalize on rising global demand for its science- based products in agriculture and safety and protection, further penetrate key markets in the world's rapidly growing geographies and extend its productivity improvement programs.

DuPont expects to generate US$1.7 billion in productivity gains over the next three years by continuing efforts already under way to streamline and simplify its supply chains and business support operations.

Operating in more than 70 countries, DuPont offers a wide range of innovative products and services for markets including agriculture and food.