Dsm Profits Rise, Sees Growth

Dutch chemicals group DSM NV on Wednesday reported 1997 first-half net profit up 13 percent at 465 million guilders and predicted clearly higher earnings for the full year. Higher sales volumes and profit margins drove a sharp rise in earnings from DSMs polymers and hydrocarbons division. But operating profits from industrial and fine chemicals were depressed by maintenance shutdowns and plant revamping. DSM said it expected earnings for the whole of 1997 to be clearly higher than in 1996. As far as can be judged at present, in the next few months current market conditions, which are good, will not change significantly, it said in a statement. Assuming that the macro-economic situation will remain stable, we expect our results for the whole of 1997 to be clearly higher than those for 1996.