First-Half Profits Surge At Rhone-Poulenc

French chemical and pharmaceutical group Rhone-Poulenc announced net profits for the first six months of 1995 up 283.1% to 1.3 billion French francs ($204.8 million). Operating income was up 26% to just under 4 billion francs, which was in keeping with analysts expectations. Net sales were up 2.6% to 43.5 billion francs. Earnings per share were 4.09 francs, up 243.7%.

The improvements were made against a backdrop of restructuring charges, losses on currency exchange and slower volume growth, but some observers are suggesting that the company should still be doing better.

Jean-Pierre Tirouflet, senior vice president at R-P, said at a press meeting in London that the company is on track despite the difficult environment. Addressing criticisms that the group's results are disappointing, he said that those who hold this opinion do not understand what R-P is in the process of achieving.