31 March 1999
Montedison lifts profits by 12%
MONTEDISON, the Italian agro-industrial group at the centre of market takeover speculation, reported a 12% rise in 1998 pre-tax profits to L1,668bn ($925m).
Sales rose 5% to L 24,870bn and group net profits totalled L656bn compared with L1,490bn the year before.
The companys 1997 profits included a special gain of L 1,000bn from the sale of Montedisons 50% stake in the Montell chemicals venture to Royal Dutch/Shell.