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News Stepan increases income by 15% in first half of 2020

Stepan increases income by 15% in first half of 2020

Written by Global Insulation staff
27 July 2020
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US: Stepan has recorded a first-half income before tax of US$63.4m, up by 15% year-on-year from US$55.2m in the first half of 2020. Net sales were US$910m, down by 5.4% year-on-year from US$962m. Polymer sales, which includes sales of Stepan’s rigid foam insulation polyols, fell by 20% to US$112m from US$141m due to lower North American and European demand, “reflecting Covid-19 construction project delays,” according to the company. This was partly offset by increased sales volumes of 41% from its China division.

Published in Global Insulation News
Tagged under
  • US
  • Stepan
  • Results
  • China
  • coronavirus

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