Fuchs strong in first nine months
Germany's Fuchs Petrolub Group showed strong growth for the first nine months of 2010, after positive sales revenue in Q3.
The independent blender saw a 24% increase in revenues for the first nine months, to a little more than €1bn ($1.35bn), returning the company to the same record level as 2008.
Net profits for the nine month period were €132.7m ($188.9m), a jump of 62% for the same time in 2009, with all of the company's region showing strong growth. North and South America led the way with a 41.3% improvement, followed by Asia-Pacific and Africa and then Europe.
The reductions in gross margins, which the company predicts will continue into the final quarter, has had some impact on the figures, but this has been largely offset by lower than expected cost increases and strong sales revenues.
Published 17th November, 2010
