August 5, 2009
DSM Q2 profits fall
Chemical company DSM has seen its profits decrease in the second quarter compared with the same period last year.
Total company results (EBIT) fell to EUR79 million, compared to last year's record profits of EUR276 million. Sales fell from EUR2.5 billion to EUR2 billion.
The company's Nutritional Products division, which includes the manufacturing and sales of animal nutrition products, maintained a strong performance partly due to the change in industry dynamics. The economic downturn had a limited effected on trading conditions.
DSM will implement more cost-cutting operations. The company hopes to save EUR125 million by 2010, which will lead to the loss of about 1,250 jobs worldwide.
US$1 = EUR0.693701 (Aug 5)
