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 10 feb 2006 10u49 

Dutch chemicals maker DSM books record profits in 2005


Dutch chemicals and biotechnology group DSM announced on Thursday its profits hit 527 million euros (about 632 million U.S. dollars) last year, the largest in its corporate history.

The plastics-to-vitamins conglomerate nearly doubled its profits on its turnover of 8.2 billion euros, a rise of 5 percent on 2004.

DSM said the results were primarily due to cost savings and continued strong demand for fine chemicals and high value materials.

The company reported profit increases at each of its four main units, which sell pharmaceutical chemicals, nutritional supplements, high-performance resins and plastics, and heavy industrial chemicals.

"All divisions had strongly improved results," DSM chief Peter Elverding said. He forecast profits would rise again in 2006 as global demand for chemicals remains strong. (1 euro = 1.1953 dollars)



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