Full-Year Profits Up 27% At Degussa
Fiscal 1996/97 was another successful year for the German Degussa group,with profits before tax leaping 27% on the previous fiscal year to 523 million Deutschemarks ($294.1 million). Earnings per share rose 12.8% to 4.40 marks, while group sales increased 11% to 15.3 billion marks.
Degussa claims that its strong growth is a result of focusing on specialty chemicals, health and nutrition as well as selected precious metals activities, and adds that the globalization of its businesses is paying dividends.
ASTA Earnings Down Turnover for the health and nutrition segment rose 14% to 3.1 billion marks. However, overall earnings of ASTA Medica Group, Degussa's pharmaceutical division, markedly decreased due principally to weak domestic business during the fourth quarter brought about by cost-cutting measures as a result of health care reform in Germany.
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