InterBulk Group plc (INB.L) Thursday reported a drop in its half-year profit, as revenues declined due to depressed demand and temporary plant closures in the chemical and polymer industry in Europe.
Profit for the period dropped to 0.09 million from 1.93 million pounds, while earnings per share fell to 0.02 pence from 0.41 pence in the same period last year.
On adjusted basis, earnings per share was 0.12 pence per share, compared to 0.45 pence per share last year.
Profit before taxation was at 0.31 million pounds, compared to 2.33 million pounds prior year.
Revenue decreased 6 percent to 132.77 million pounds from 141.33 million pounds in the year ago period.
The company said it views the second half of the year with more confidence and chemical sector is expected to continue on its long-term growth trend ahead of global GDP.
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