0e6r22 Jan 2013 22:45
Fourth quarter results: The results materialised at the upper end of analyst forecasts - the share price gained in opening trade. Improved demand for both automotive plastics and packaging materials helped its Performance Materials division counterbalance difficulties elsewhere.
Increased demand underwrote a 3% improvement in volumes for the Performance Materials business, with management highlighting "stable packaging markets and strong demand in the North American automotive market." Less favourably, at its Performance Chemicals business, sales fell by 15% on 8% lower volumes and 7% lower prices, impacted by reduced paint pigment sales, whilst the group's Electronics & Communications also dragged on overall performance. In all, management noted that "DuPont stands stronger today than it did a year ago." Sales for the full year rose by 3% to $34.8 billion, with a 6% increase in developing markets.