Valvolines profit for fiscal 2005 fell 14 percent from a year ago due to a combination of slower lubricant sales and higher raw material costs, parent company Ashland Inc. reported Monday in a preliminary year-end statement.
The automotive consumer products marketer posted operating income of$90 million for the 12 months ended Sept. 30, down from $105 million for its fiscal 2004. Total sales revenue rose a modest 2.2 percent to $1.3 billion, but sales volumes for the companys core lubricants business dropped 8.5 percent to 175.4 million gallons. Sales of premium products, as a portion of overall U.S. volumes, rose from 21.5 percent to 23.4 percent.
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