Houston, Texas -Â Kraton Polymers LLC said total revenue for the six months to 30 June 2007 grew 5 percent to $542 million (â‚¬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.
â€œIn 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,â€ said George Gregory, president and chief executive officer. â€œWe 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.â€
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Press release from Kraton