* Adj Q4 profit 58 cents vs. Street forecast 62 cents

* Revenue up 7 percent to $1.61 bln; beats Street

* Volumes down due to “near-term uncertainty”-CEO

Jan 31 (Reuters) – Chemical maker Celanese Corp
posted a lower-than-expected quarterly profit on higher costs
and lower demand, but said margins at its key Acetyl
Intermediates unit will bounce back in the first half.

Lower end-market demand in Europe had resulted in a sharp
inventory destocking in its Acetyl Intermediates unit, which
makes chemicals used in paint and glue, and makes up for more
than half of the company’s total sales.

“In 2012, we expect to see volume growth and productivity…
as demand for acetic acid and downstream derivatives continues
to grow at GDP plus 100 to 150 basis points,” Chief Financial
Officer Steven Sterin said on a conference call.

For the fourth quarter, the company posted a net income of
$95 million, or 60 cents per share, compared with $58 million,
or 36 cents per share, in the year-ago period.

Excluding one-time items, Celanese posted a profit of 58
cents per share. By that measure, analysts expected earnings of
62 cents per share, according to Thomson Reuters I/B/E/S.

Revenue rose 7 percent to $1.61 billion, compared with
analysts’ estimates of $1.56 billion.

The company’s cost of sales jumped to $1.34 billion from
$1.19 billion.

“Near-term uncertainty translated into more cautious buying
behavior at the end of the quarter resulting in temporarily
lower fourth-quarter volumes and lower earnings than we
previously expected,” said Chief Executive David Weidman, who is
retiring later this year.

Shares of the company were trading down 2 percent at $48.34
in afternoon trade on the New York Stock Exchange on Tuesday.
They fell about 4 percent to a 5-day low earlier in the session.