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Home Industry News Nalco “delivering well” this year

Nalco “delivering well” this year

28th October 2009

Nalco’s latest financial results show that the scientific instruments provider is performing well this year despite the economic downturn, it has stated.

According to the firm’s figures, it achieved sales growth of five per cent.

However, net income during the third quarter was down from a divestiture-aided net income of $57.4 million (35 million pounds), when compared to the same period of 2008.

Additionally, the firm’s third-quarter revenues declined by 14.2 per cent to $957 million in comparison to the corresponding quarter of last year.

“Nalco is delivering well against productivity and cash commitments we made at the beginning of the year, generating solid earnings performance through cost savings efforts and generating strong free cash flow,” explained chairman and chief executive officer Erik Fyrwald.

In other Nalco news, the firm announced this week that it has joined the United Nations Global Compact – the world’s largest corporate citizenship and social responsibility organisation.

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