Arkema Posts Drop In 2013 Profit

Arkema SA ARKAY reported a drop in its 2013 net profit. Arkema's net profit for the year declined 24% to 168 million euros ($232 million), while sales slipped 4.6% to EUR6.1 billion. Its earnings before interest, taxes, depreciation and amortization declined 9.4% to EUR902 million. Arkema projects sales to increase to EUR8 billion by 2016. Arkema shares closed at $106.15 yesterday.