3M posts 58 per cent 4th-quarter profits rise on acquisitions


dpa German Press Agency
Published: Tuesday January 30, 2007

Washington- US conglomerate 3M reported Tuesday that it
achieved fourth-quarter 2006 profits of 1.18 billion dollars, surging
58 per cent from the same period of a year earlier.
The St. Paul, Minneapolis-based concern said the profits,
amounting to 1.57 dollars per share, reflected gains from
acquisitions as well as from sales of optical film for flat-screen
television sets.

Fourth-quarter revenues came to 5.78 billion dollars, up 8.6 per
cent from the same 2005 period.

For the full year 2006, profits reached 3.9 billion dollars, up 24
per cent, while revenues gained 8.3 per cent to 22.9 billion dollars.

During the fourth quarter of 2006, 3M moved to make four
acquisitions, while also selling off the company's pharmaceuticals
unit in order to boost revenues. In addition, sales of optical film
coating picked up pace amid rising demand for liquid-crystal display
television sets.

© 2006 - dpa German Press Agency