BRUSSELS: Belgian chemicals group Tessenderlo on Wednesday said it expected its 2016 core profit (REBITDA) to come in at the lower end of a previously given outlook range, as income from potassium sulphate fertilizers fell.
The group said it expected its 2016 recurring earnings before interest, taxes, depreciation and amortisation (REBITDA) to grow by around 15 percent, having previously guided for growth of between 15 and 20 percent.
Analysts polled by Reuters had on average expected a 21 percent increase to 218 million euros ($246.12 million). In the first half it came to 120.4 million euros, broadly in line with consensus.
The group said core profit from its agricultural business fell 11.5 percent in the first half, mainly because of a fall in revenue from potassium sulphate fertilizers, without specifying what caused the fall.
