DuPont, the largest US chemicals group by market capitalisation, has reported a 58 per cent drop in underlying earnings per share for the fourth quarter, after weaker results from the division which sells chemicals used in paint.

For 2012 as a whole, earnings fell by 6 per cent to $3.33, while the earnings for the quarter were down to 11 cents a share. However, the results were slightly better than analysts had expected, and the shares rose slightly.

Revenues for the fourth quarter were unchanged at $7.3 billion, but with wide variation between regions.

Sales to North America and the Asia-Pacific region were flat. Sales to Europe, the Middle East and Africa were down 8 per cent, while sales to Latin America up 10 per cent. – Copyright The Financial Times Limited 2013