STOCKHOLM—Hexpol A.B. posted an 11 percent year-on-year increase in operating profit to $62.4 million, on 23 percent higher second quarter sales that totaled $389 million.
Higher volumes helped sales to grow 6 percent in the quarter, after adjustments for currency and acquisitions. Raw materials were slightly above the prior-year quarter levels, while price-pressure "continued strong" on all markets, Hexpol reported July 19.
In his first interim report, President and CEO Mikael Fryklund said: "During the quarter, the prices on our main raw materials have been stable and the price pressure continued strong on all markets."
The first half-year also was strong, with sales up 18 percent and earnings per share 9 percent higher.
"Our financial position remains strong and we are well equipped for further expansion," Fryklund said
He went on to highlight Hexpol's recent acquisitions, including Trelleborg's rubber compounding unit in the Czech Republic, and U.S. rubber compounder Valley Processing.