EUPEN, Belgium—Hexpol A.B. has posted a marginal increase in its operating profit in the first quarter of 2016, with the figure rising to $60.9 million from $60.6 million in the same period in 2015.
Despite volume growth, sales dropped to $340 million, against last year's $360 million over the same quarter.
Revenues were negatively affected by considerably lower sales prices due to considerably lower raw material prices, President and CEO Georg Brunstam said, adding that prices on principal raw materials had been lower than in the fourth quarter 2015.
“Price pressure was continued strong during the quarter on all markets,” he added.