UPDATE 1-Clariant Q3 net profit soars, hikes margin goal

*Clariant Q3 net profit jumps to 106 mln Sfr from 20 mln Sfr

*Beats average Reuters poll estimate of 42.1 mln Sfr

*Net profit boosted by one-off tax gain

*2010 sales to grow in high-single digit percentage range

*Sees 2010 operating margin before exceptionals above 9 pct

(Adds details, background)

ZURICH, Nov 3 (BestGrowthStock) – Swiss chemicals maker Clariant
(CLN.VX: ) raised its full-year profitability target after net
profit soared in the third quarter thanks to a one-off tax gain
and increasing demand for industrial goods.

Clariant, which makes colour and additive concentrates for
the automobile and textile industries, posted a quarterly net
profit of 106 million Swiss francs after minorities, easily
beating the average estimate in a Reuters poll.[ID:nLDE6A00IF]

The group benefited from a one-off tax gain of 45 million

Sales rose 8 percent in local currency to 1.7 billion
francs, slightly below estimates. Sales growth in Swiss francs
was 1 percent as the strong Swiss franc weighed.

“For the remainder of the year, Clariant expects stable
trading conditions,” the group said in a statement on Wednesday.

The group is guiding for sales growth in the high-single
digit percentage range in local currency and an operating margin
before exceptionals above 9 percent for 2010.

The group had said it was aiming for an operating margin of
more than 8 percent.

Clariant’s comments follow after a string of strong results
from rivals Bayer (BAYGn.DE: ), Dow Chemical (DOW.N: ) and BASF
(BASFn.DE: ) as demand for chemicals across the world picks up
thanks to brisker economic activity.[ID:nLDE69R1OC]

Upbeat demand from Asia has helped global chemical makers
recover quickly from the downturn, which hit the sector hard and
prompted Clariant to slash jobs as part of an extensive
restructuring effort.

Clariant said it expected raw material to rise further but
at a lower pace than in the first nine months of the year.
(Reporting by Katie Reid)

UPDATE 1-Clariant Q3 net profit soars, hikes margin goal