ICI considers Uniqema sale as profits rise

Chemicals giant ICI today posted a 5% rise in profits as it increased prices in the face of higher energy bills and raw materials costs.

The UK’s largest chemicals firm, which makes Dulux paint, said pre-tax profits were up from £422m (€613.6m) in 2004 to £444m (€645.6m) in 2005.

The improvement came on the back of a 6% rise in sales and higher product prices as energy bills and the cost of raw materials soared on the back of higher oil prices.

ICI also said it was considering the sale of Uniqema, its Netherlands-based oleochemicals arm, which makes ingredients for products such as suncream and air-conditioning systems.