Kraton's first half on a par with last year, but falls into loss

Houston, Texas - Kraton Polymers LLC said total revenue for the six months to 30 June 2007 grew 5 percent to $542 million (€396 million), compared with the equivalent period a year earlier. Gross profit for the first six months decreased $21 million to $84 million.

In the six month period, the company reported a net loss of $7 million against net profit of $10 million for the same period of 2006. The company blamed the reversal on increased raw materials costs.

“In the second quarter, we saw further increases in our raw material costs. We are responding in the short term by implementing price increases, continuing to push for innovation-led growth, and accelerating our cost-out programs,” said George Gregory, president and chief executive officer. “We are also continuing to make long-term investments in the business to satisfy our commitment of delivering the highest-quality products to our customers, bringing them exciting new innovations, and making capacity available for their worldwide growth.”

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Press release from Kraton