Yearly Profits Rise At Rhone-Poulenc

French chemical and pharmaceutical company Rhone-Poulenc said that despite a weak dollar throughout the year and the deterioration of the economy in the fourth quarter of 1995, it has continued to improve operations. The firm's net income rose 11.4% to 2.1 billion French francs ($422.3 million), but it was noted that the group did not meet its objectives. For 1996, the improvement of profitability and the reduction of debt have been set as two goals.

Operating profit was 6.2 billion francs, down 10.3%. On a comparable basis there would have been an increase of 12.2%, along with exclusion of restructuring provisions and exceptional charges related to the acquisitions of Fisons and Applied Immune Sciences.

Consolidated sales in 1995 were 84.8 billion francs, down 1.8% on the previous year. On a comparable basis and excluding exchange rate effects, sales grew 7.4%. Volumes rose 4% and prices 3.4%.