Third-quarter profits rose 53 per cent to £107 million sterling (€166 million) at chemicals combine Imperial Chemical Industries, more than making up for lower profits achieved in the first two quarters. The company, which is a shareholder in Irish Fertilizer Industries, said profits for the nine-month period were 2 per cent higher at £273 million. The sharp profit gains in the third quarter were due to sales and margin improvements in the "core" speciality chemicals and paints businesses and the elimination of losses in industrial chemicals, much reduced in size by disposals.

The group's 49 per cent interest in Irish Fertilizer Industries remains for sale.