Rhone-Poulenc Results Ahead Of Expectations

14 November 1994

French chemicals group Rhone-Poulenc, which controls the drugmaker Rhone-Poulenc Rorer, reports first nine months of 1994 sales at 63.4 billion French francs ($12.31 billion), a rise of 6.4% or up 5.5% on a comparable basis. Operating income improved 15.3% to 5.4 billion francs, with the best performance attributed to the chemicals and fibers divisions (up 223%) and also to agrochemicals, where operating income doubled in the nine months.

Results in the health care sector remained depressed, the company says, because of the significant provision undertaken by R-PR during the first half of the year (some 699 million francs). The sector's operating income (see also Marketletter October 31), however, before provisions for restructuring expenses and non-recurring items, rose marginally during the first three quarters due to stronger third-quarter results at R-PR and the sector's other businesses, the group reports.

On balance, the group's nine-month results are ahead of many analysts' expectations, and some of them have revised upwards their forecasts for the full year.

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