Economic slowdown hits Rohm and Haas18 September 2001
Speciality chemicals company Rohm and Haas have reported net sales of just under US$3 billion, down from US$3.3 billion for the same period of the previous year. Gross profit fell from just over US$1 billion in the first six months of 2000 to US$853 million in 2001. However, net earnings climbed from US$ 200 million to US$ 305 million. Chairman Raj L Gupta noted that, while external economic conditions remain challenging, Rohm and Haas are beginning to see the benefits of tighter control of internal costs and discretionary spending.