DuPont profit sprouts up

   Date:2008/01/23     Source:

DUPONT Co, the third-biggest United States chemical maker, said fourth-quarter profit rose as increased sales of seeds and chemicals in Latin America more than made up for weak demand from domestic housing and auto markets.

Profit, excluding some items, rose to 57 US cents a share from 45 US cents a year earlier, Wilmington, Delaware-based DuPont said yesterday. The performance topped the 50-cent average estimate of 11 analysts surveyed by Bloomberg News. Chief Executive Officer Charles Holliday said on January 9 that profit would be about 50 US cents a share.

Revenue rose 11 percent to US$6.98 billion as demand for corn and soybean seeds in Brazil increased revenue from the agriculture unit. Sales rose in all regions, including a five-percent gain in the US.

Net income in the quarter fell to US$545 million, or 60 US cents a share, from US$871 million, or 94 US cents, a year earlier, DuPont said in the statement yesterday.


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