Tessenderlo cuts 2016 outlook again after Q3 sales
25/10/2016 07:24
BRUSSELS, Oct 25 (Reuters) - Belgian chemical group
Tessenderlo TESB.BR on Tuesday cut its 2016 profit outlook for
a second time this year, as it expected its business to slow in
the final quarter of the year.
Tessenderlo, which had cut its outlook for recurring core
profit (REBITDA) growth in 2016 to about 15 percent in August,
said it now saw an increase of about 10 percent, compared to the
180.4 million euros ($196.3 million) of 2015.
The group said earnings in the third quarter increased most
in its bio valorisation unit, which processes byproducts from
the meat industry for use in pet food and gelatins, while
REBITDA at its larger agricultural and industrial solutions
businesses declined.
($1 = 0.9189 euros)
(Reporting by Robert-Jan Bartunek; editing by Philip
Blenkinsop)
((robertjan.bartunek@thomsonreuters.com; +32 2 2876850; Reuters
Messaging: robert-jan.bartunek.thomsonreuters.com@reuters.net))
Keywords: TESSENDERLO RESULTS/