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ZURICH, April 30 (Reuters) – Clariant warned on Tuesday of a difficult economic environment as the Swiss specialty chemicals manufacturer announced sales in line with expectations for the first quarter.
Sales remained stable at 1.72 billion Swiss francs ($ 1.69 billion), which is in line with forecasts made by the group's badysts. In local currencies, Clariant sales increased by 2%.
Earnings before interest, taxes, depreciation and amortization after exceptional items decreased by 8% to 236 million francs, missing the expectations of 253 million francs.
"In the first three months of this year, Clariant has seen continued organic sales growth despite a challenging macroeconomic environment," said Managing Director Ernesto Occhiello.
$ 1 = 1.0189 Swiss francs
Reportage of John Revill; Edited by Michael Shields
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