Ciba Specialty Chemicals reported good progress in its full year results for 2006, with sales increased by 5% in Swiss francs and 4% in local currencies
The report notes that underlying profitability has improved, with free cash flow increased. A dividend of CHF3 per share has been proposed and the concluding Outlook for 2007 section sees predictions of continued growth in sales and profitability.
Armin Meyer, chairman of the board and ceo, comments: “Ciba Specialty Chemicals made further progress in 2006. We achieved solid sales growth, as well as underlying improvements in margins and a higher free cash flow. On top of this, we completed major strategic milestones. We divested our Textile Effects and Masterbatch businesses, refined our strategic direction and launched the Operational Agenda, our program to improve the effectiveness and efficiency of key processes throughout the organisation.”