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TVK chief sees narrowing margins in 2010

Chemical company TVK's margins are likely to narrow in 2010 as demand improves only moderately but feedstock prices climb, business daily Napi Gazdaság reported, citing CEO Árpád Olvasó.

Industries that use polyethylene and polypropylene, two of TVK's main products, are only gradually increasing their output, Olvasó said.

TVK's margin widened in the first quarter of 2010 from the same period a year earlier as net sales climbed 47% to HUF 84.8 billion and cost of raw materials and consumables rose 42% to HUF 81.9 billion.

The company is expected to publish its preliminary Q2 report on August 17. (MTI – Econews)