Issue Date: December 15, 2008
Rhodia Backtracks On 2008 Outlook
Citing the economic downturn, Rhodia has revised its outlook for 2008. The company says it expects its operating profits for continuing operations to be about 10% below the comparable results for 2007. As a result, the French firm will not achieve its earnings-per-share objective for the year. "Over the past few weeks, we have witnessed short-notice cancellation of orders coming even from geographical areas that had shown satisfactory dynamics until recently," CEO Jean-Pierre Clamadieu says.
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