"Excellent" Year For UCB In 1996

Despite the first six months of 1996 being affected by an economicslowdown in the chemical industry, the Belgian firm UCB said it had a good year. Group turnover was 50.8 billion Belgian francs ($1.4 billion), compared with 51.7 billion francs a year earlier. If the sales of the packaging division are excluded - the unit was divested in 1996, consolidated turnover showed an increase of around 19%, says UCB.

1996 pretax profits were 6.9 billion francs, up 62.9%, and net profits were up 71.9% to 5.8 billion francs. Pretax profits included an exceptional item of 1.2 billion francs.

UCB said its prospects for 1997 are favorable, and profits should grow.