Clariant AG (CLZNF.PK, CRN.L) Wednesday released the financial details for the third quarter ended 30 September 2012, reporting a slight decline in net profit for the quarter in comparison with the corresponding period last year, despite rise in total sales for the quarter.
The internationally active specialty chemicals company reported net income for the third quarter of CHF 49 million, lower than net income of CHF 81 million reported for the year-ago quarter.
Total sales for the third quarter increased 3 percent to CHF 1.923 billion from CHF 1.865 billion reported for the same quarter in the previous year.
CEO Hariolf Kottmann commented: "Given the further deterioration of the global economy, in which slower emerging markets growth could not offset anymore a weakening in Europe, Clariant achieved a solid performance in the last three months. This was driven by a stable development of most core businesses, manifesting the consequent execution of our profitable growth strategy. Although the short-term economic challenges are expected to persist, Clariant's mid-term guidance until 2015 remains intact."
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