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Article: German chemical companies results. (profits of BASF AG, Hoescht AG, Henkel AG and Degussa AG)
- Article from:
- Cosmetics International
- Article date:
- April 10, 1992
CopyrightCOPYRIGHT 1992 Communications International Group. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Mixed results have been reported by the leading German chemical companies. BASF and Hoechst both announced pre-tax profits down by over 20 per cent. At the same time, both groups announced that they were cutting their dividends for fiscal 1991, the first dividend cuts since 1982.
BASF's pre-tax profits declined b 23.2 per cent to DM2.11 billion (|pounds~736 million) from the previous year's DM2.75 million. Hoechst's pre-tax profits were down by a little over 20 per cent from DM3.22 billion to DM2.56 billion. Fiscal 1991 was the second consecutive year for which Hoechst has produced a marked fall in profits as the German chemicals industry has been hit by poor trading ...
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