ICI year results meet expectations, to sell Uniqema
Thu Feb 9, 2006 3:10 AM ET
LONDON, Feb 9 (Reuters) - Britain's Imperial Chemical Industries Plc posted a 5 percent rise in annual underlying profits on Thursday and said it intends to sell oleochemicals business Uniqema.
ICI, Britain's largest chemicals firm and the maker of Dulux paint, posted 444 million pounds ($774.3 million) in pretax profit for the year to end-December 2005, versus 422 million a year ago. The result broadly met analysts' forecast of 442.3 million pounds by 15 analysts surveyed by Reuters.
The outlook for the company remains uncertain as rising raw material costs, weak consumer spending and hefty pension deficit could hit the bottom line, analysts said.
Shares in ICI, which competes with Rohm & Haas Co. Sherwin-Williams and Givaudan, have outperformed the European chemicals sector <.SX4P> by around 16 percent in the past 12 months.
Engineering News Archive