Northfield, Illinois - Income at Stepan Co. was up 22 percent in the second quarter on 2011, at $20.9 million, the company said in its 27 July quarterly report.
Net sales rose 30 percent, which Stepan said was primarily due to higher selling prices. Gross profit rose 10 percent.
In the polymers business, which includes polyols for polyurethane foams, Q2 sales were $120.8 million, up 33 percent from the same period last year. Polymer sales were up by 6 percent and sales volume of polyol, used primarily in rigid foam insulation, rose by 12 percent.
Polymer gross profit surged 37 percent to $20.6 million compared to $15 million a year ago. Stepan said the improvement was largely due to the 12 percent increase in polyol volume coupled with improved margins, particularly in Europe. The US company said it anticipated continued strong demand.