July 27 (Bloomberg) -- Clariant AG reported lower-than- expected profit in the second quarter, held back by a stronger swiss franc.
Earnings before interest, taxes, depreciation and amortization declined to 241 million francs from 264 million francs, the Muttenz, Switzerland-based chemical maker said in a statement today. JPMorgan analysts had predicted 293 million francs in earnings.
Clariant reiterated targets for the full year, yet flagged some businesses have seen the first signs of a slowdown in demand. The company purchased catalyst maker Sued-Chemie for $1.5 billion in April to diversify its offering from cyclical commodity markets and it said today that integration of the business is going according to plan.
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