Slow Start To 1996 At Hoechst
At 13 billion Deutschemarks ($8.5 billion), Hoechst's group sales in the first quarter of 1996 were almost unchanged compared with the like, year-earlier period. Sales volumes were ahead 2%. Group pretax profits developed well, rising 27% to 1.24 billion marks in the first quarter.
The firm said that the quarter lacked momentum in the major industrial regions. Business in western Europe was slack, and only a subdued level of growth was registered in the USA. There were signs of a slight recovery in Japan.
The pharmaceutical business of Hoechst Marion Roussel developed encouragingly in Europe and the USA. However, it was noted that pharmaceutical prices continued to come under pressure.
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