Chemicals company DSM had a ‘very strong start’ to the year, booking net profit of €130m, compared with just €13m in the year earlier period.

DSM said the improvement is due to sharp growth in developing markets and increased demand from the car industry, electronics sector and textile market.
The company is also reaping the benefits of a cost-cutting programme which has reduced expenditure by €200m a year.
‘Whilst uncertainties remain in the medium term economic outlook, the strong Q1 result and continued positive business conditions give us confidence that 2010 will be a good year for DSM,’ CEO Feike Sijbesma said in a statement.