Company News, Financial News

Profits Up, Sales Down at Univar

Lower fuel demands spark sales decline

Author Image

By: TOM BRANNA

Editor

Univar reported second quarter net income of $39.8 million compared to a loss of $12.4 million a year ago, largely the result of lower interest expense, and the absence of charges related to the initial public offering and debt refinancing in the prior year quarter. During the period, Univar's net sales fell 9.9% ($247.6 million) to $2.3 billion, and gross profit fell 4.7% to $445.4 million, largely due to lower demand from the upstream oil and gas market, and a 7.1% decline in average sell...

Continue reading this story and get 24/7 access to Happi for FREE


Already a subscriber? Sign in

Keep Up With Our Content. Subscribe To Happi Newsletters