In 1996, France“s Rhone-Poulenc recorded net income of FFr 2.74 billion (US$ 535 million), an increase of 28.4% compared to 1995. Earnings per share rose to FFr 8.44 (US$ 1.65), an increase of 25.8%….
In 1996, France“s Rhone-Poulenc recorded net income of FFr 2.74 billion (US$ 535 million), an increase of 28.4% compared to 1995. Earnings per share rose to FFr 8.44 (US$ 1.65), an increase of 25.8%. This progress in net income is essentially due to earnings growth in the pharmaceuticals and animal and plant health businesses, which represent 87% of the Group“s earnings from operating activities. In Chemicals, earnings from operating activities increased by FFr 675 million (US$ 132 million) in spite of a significant decrease in the profitability of titanium dioxide and certain intermediates. In Fibres and Polymers, earnings from operating activities fell by nearly FFr 600 million (US$ 117 million) because of the worldwide polyester crisis. The Group“s consolidated sales were FFr 85.818 billion (US$ 16.76 billion), an increase of 1.2% on a historic basis and 3% on a comparable basis. Volumes increased 5.1%, prices fell 2.8% and the currency effect was 0.7%. Earnings from operating activities rose to FFr 7.721 billion (US$ 1.51 billion). Operating income was FFr 6.892 billion (US$ 1.35 billion). Net income rose to FFr 2.74 billion (US$ 535 million), an increase of 28.4%. A gross dividend (dividend plus tax credit) per ordinary share “A” of FFr 5.25 (US$ 1.03) will be proposed by the Board of Directors to the General Meeting of Shareholders.