Specialist chemicals company DSM said on Tuesday second quarter turnover was up 12% on a year ago at almost €2bn, boosted by currency effects and volume growth.

Net profit rose 25% to €99m, the company said.

‘With increasingly challenging macro-economic conditions we remain focused on further improving the operational performance of DSM’s businesses while making continued progress in innovation and sustainability,’ chief executive Feike Sijbesma said in a statement.

‘The setting up of efficiency and cost reduction programmes with a particular focus on the nutrition business and the DSM-wide support functions is progressing well,’ he added.  More details and information about job losses will be published at the end of August and in November, Sijbesma said.

In particular, the group’s vitamin activities are under pressure from lower prices and increasing competition from China. Prices for vitamins have plunged by some 30%.

‘We have to learn to live with lower prices but we are still earning from them and not everyone can say that,’ Sijbesma told Radio 1 news.