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ICI first-quarter profit down

British Imperial Chemical Industries Plc (ICI) posted a 6% fall in first-quarter profits on 3 May but said it had been encouraged by its “competitive performance” amid the US economic slowdown. “Excel…

British Imperial Chemical Industries Plc (ICI) posted a 6% fall in first-quarter profits on 3 May but said it had been encouraged by its “competitive performance” amid the US economic slowdown. “Excellent performance in Asia and solid progress in Europe and Latin America more than offset a 2% decline in North American sales, demonstrating the strength coming from ICI“s geographic spread,” the company said in a statement. ICI“s pre-tax profit fell 5.6% to 85 million (US$ 122 million) in the three months to March on turnover which was up 7.6% to 1.64 billion at continuing operations. “Actions are underway to ensure that we continue to perform well relative to the industry for the full year, despite the uncertainty about the US economic outlook,” ICI said.

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