Home / Knowledge / News / Textiles / Coatings division at Ashland grows 8% in 2013
Coatings division at Ashland grows 8% in 2013
28
Jan '14
Ashland Inc., a global leader in specialty chemical solutions for consumer and industrial markets, announced preliminary financial results for the quarter ended December 31, 2013, the first quarter of its 2014 fiscal year.

For the year-ago quarter, Ashland reported income from continuing operations of $102 million, or $1.27 per diluted share, on sales of $1.9 billion. The year-ago results included three key items that together had a net favorable impact on continuing operations of approximately $12 million, net of tax, or 15 cents per diluted share.

The largest key item was a $13 million after-tax benefit related to a business interruption insurance settlement. Excluding the three key items, Ashland's adjusted income from continuing operations was $90 million, or $1.12 per diluted share.

For the remainder of this news release, financial results exclude the effect of key items in the prior-year quarter. On this basis, Ashland's results as compared to the year-ago quarter were as follows:

- Volumes increased 3 percent;
- Sales were flat;
- Operating income increased 10 percent to $179 million;
- Earnings before interest, taxes, depreciation and amortization (EBITDA) increased 8 percent to $289 million; and
- EBITDA as a percent of sales increased 120 basis points to 15.5 percent.

"We were encouraged by our overall financial performance in the first quarter, which is Ashland's seasonally weakest period of the year. While overall sales were flat due to lower pricing in some of our more commoditized businesses, each of our four commercial units reported volume gains over the prior year," said James J. O'Brien, Ashland chairman and chief executive officer.

"Within Ashland Specialty Ingredients, we generated increased volume in our personal-care business, aided in part by improved  penetration and innovation in Europe for our oral- and skin-care products. Similarly, our coatings business grew volume in both developed and emerging economies, as we benefitted from improved market penetration. Ashland Water Technologies had volume gains in both the pulp and paper and the industrial water businesses.

“Within Ashland Performance Materials, our adhesives business reported double-digit volume increases driven by strong demand in auto, housing, and packaging and converting applications. In addition, our composites business reported strong demand in Asia. Ashland Consumer Markets delivered another solid quarter with continued sales growth in the international business and in Valvoline Instant Oil Change stores." 

Click here to read full results    

Ashland


Must ReadView All

Courtesy: Fashion Revolution/Fashion Transparency Index

Apparel/Garments | On 23rd Apr 2018

Transparency helps in swiftly alerting brands

Disclosing key supplier, supply chain and operational information...

Japan’s clothing imports up 4% in fiscal 2017

Apparel/Garments | On 23rd Apr 2018

Japan’s clothing imports up 4% in fiscal 2017

Japan’s imports of clothing and accessories increased by 4 per cent...

Courtesy: Fashion Revolution/Fashion Transparency Index

Fashion | On 23rd Apr 2018

Top global fashion brands now more transparent

Fashion Revolution’s Fashion Transparency Index 2018 reveals Adidas...

Interviews View All

Rashi Menda
Zapyle

Every fifth sale we make on Zapyle is a repeat purchase

Abhimanyu Singh Rathore & Barbara Anna Kosiorek
Kannbar

‘Blending cultures is the true beauty of fashion, where one’s imagination...

Darshan Mehta
Infinium Polychem

We are spending double digit figures on R&D

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Amiben Shroff
Shrujan

From its modest beginning in the late 1960s, Shrujan has grown into a...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


April 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.9%
No
12.6%
Skip
17.5%

Total Votes: 103

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.1%
No
29.1%
Skip
7.8%

Total Votes: 103

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.4%
No
8.7%
Skip
3.9%

Total Votes: 103

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
7.8%
Skip
9.7%

Total Votes: 103


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search