Belgian pharmaceuticals giant Solvay posts profit rise

Belgium's pharmaceuticals giant Solvay announced a better-than-expected 6.0 percent rise in net profit for the second quarter on Friday, sending its shares rising sharply.

Shortly after the opening of trade in Brussels, shares in Solvay showed a 6.94 percent rise to 87.12 euros after the announcement of the results, which show the company on track to do as well in 2012 as the previous year.

Solvay said that despite the slowdown in demand in the sector in June, cuts and restructuring would enable it to do as well as in 2011.

The group reported adjusted net profit of 244 million euros from April to June.