ZURICH (Reuters) - Swiss chemicals group Clariant (S:CLN), which is carrying out a $20 billion (£15.22 billion) merger with U.S. peer Huntsman (N:HUN) reported first half operating profit in line with expectations on Thursday and confirmed its guidance for the year.
Clariant said its adjusted core profit rose to 482 million Swiss francs ($507.32 million) from 444 million francs a year earlier, slightly ahead of forecasts of 475 million francs in a Reuters poll.
Sales rose 8 percent to 3.13 billion francs, the company said, in line with forecasts, while net profit rose to 153 million francs from 128 million francs a year earlier.
Earlier this month Clariant revealed that U.S. activist investor White Tale Holdings has increased its stake to more than 10 percent as it seeks to block the planned merger with Huntsman.
White Tale, a vehicle for Keith Meister's Corvex hedge fund and New York's 40 North, has said it thinks the deal is not the best way to unlock the value of Clariant's business.