Degussa Reports Flat Sales And Slow Earning Growth

German chemicals, pharmaceuticals and precious metals company Degussa reported an uninspiring set of figures for its fiscal first nine months ended June 30, 1996. Group sales were 10.21 billion Deutschemarks ($6.89 million), down 2%. Contributing to the slow growth was the metal sector which, excluding precious metals, declined 12%. Pretax products were up 3% at 288 million marks. Capital investment amounted to 398 million marks.

Pharmaceutical sales for the nine-month period were virtually unchanged at 1.64 billion marks ($1.11 billion). The company says that the pharmaceutical sector reported improved earnings, and the dental division contributed good results. The business of subsidiary Asta Medica Group's foreign affiliates "developed very favorably and were able to more than compensate for the slightly weaker domestic market," Degussa explained.