Chemicals company Clariant has posted a 3% sales increase for the first quarter of 2008. Total sales were CHF2.1 billion ($2 billion). The company increased prices by 4% and was able to fully offset a 9% increase in raw material costs.

Net income fell to CHF41 million from CHF86 million as a result of higher restructuring costs and unfavourable currency effects. Clariant cut 400 jobs in the first quarter as part of the ongoing restructuring measures.

The textile, leather and paper chemicals sector was impacted by difficult market environments, leading to a 65 fall in sales.

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