DSM, the Dutch chemicals company, said on Wednesday it was still on the lookout for a sizeable acquisition to complement its life sciences or performance materials business after posting fourth quarter earnings at the low end of expectations.

The company said it expected its 2008 operating profit to “approach” the €823m reached last year, assuming a slowdown in the US economy but no substantial economic turndown elsewhere. Its fourth quarter net profit rose to €112m, up from €89m a year earlier.