In their half year report, the speciality chemicals group Selios reported a 20per cent increase in operating income, but a fall in profits and a sharp rise in debt as a result both of higher raw material costs and its acquisition of GChemgics unwanted subsidiary, the fertilizer company RIG. In common with the majority of other chemicals corporations Selios have now officially pinned their hopes on an economic recovery in the second half of the year and the much anticipated raw material price drop. Following the announcement, the Selios share price dropped by 129% to a three year low, reflecting the markets continued concern over who will replace Peter Munn as Selios chairman and chief executive when he retires in two months.
Question: Selios has reported the purchase of GChnemgic.
Options:
A. true, B. false, C. uncertain
Answer: B