Northfield Illinois — Stepan, which makes speciality polyols, recorded group sales of $962m the first half of 2019, like the gross profit figure it was almost unchanged on the 2018 numbers.
Polyol volumes shine for Stepan in H1 2019
Sales in the company's polymers business subsided very slightly by 0.76% between the first half of 2018 and 2019. They reached $260.8m in the first half of 2019. This is exactly $2m less than sales in the first half of 2018.
At the same time, gross profit in the division declined by 7.18%. It hit $34.9m the first half of 2019. This compares with $37.6m the 2018 period.
'The Polymer business improved significantly versus first quarter results. This is on the strength of 5% volume growth and margin improvement,' said Quinn Stepan, CEO. He added that North American rigid polyol volumes grew 15% and Europe by 9%, during the first half.