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February 23, 2011

NETHERLANDS: DSM profit jumps 50%

Dutch ingredients group DSM has posted a 50% jump full-year profits, which were boosted by a strong performance at the group's nutrition business.

Dutch ingredients group DSM has posted a 50% jump full-year profits, which were boosted by a strong performance at the group’s nutrition business.

Net profit rose to EUR507m (US$698m) during 2010 as sales – excluding discontinued operations – rose 22% to EUR8.17bn.

Commenting on the result, CEO Feike Sijbesma said that the group had remained focused on cost and cash management in the year to the end of December.

During the year, the group completed the EUR829m acquisition of Martek Biosciences. Hinting at possible future acquisitions and emphasising the company’s “strong” operating cash flow of EUR1.1bn, DSM said that it is in an “excellent position” to “pursue its strategic growth ambitions”.

Click here for DSM’s full results release

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