Plastic Omnium posts profit and revenue rise

For the six months ending 30 June, revenue increased 28.5% to €1.5bn, while profits went up nine-fold to €72.3m.

Revenues went up in all regions apart from France, where sales fell 15%.

In terms of growth, Plastic Omnium focused reducing its cost base while expanding in emerging markets such as China, India and South America. The automotive businesses reported robust growth, particularly in the BRIC companies, which accounted for 9% of the company’s interim revenue.

Plastic Omnium Environment posted revenue increases of 6.2% in the first half of the year.

Looking forward, the company says it is still on track to acquire Solvay’s 50% stake in the Inergy Automotive Systems joint venture. The transaction should be completed by the end of 2010, says the firm.

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