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Industrial gas giant Linde posts 23-percent drop in Q3 profit
FRANKFURT
Petroleumworld.com 10 31 07Linde, the biggest industrial gas group in the world, reported Tuesday a 23 percent drop in third quarter net profit which it said reflected the costs of it acquisition of the British group BOC.
Net profit fell to 134 million euros (193 million dollars), Linde said in a statement, while sales jumped 18.6 percent to 3.07 billion euros.
Operating profit was 20.7 percent higher at 612 million euros, with the figures better than expected by sector analysts.
For the full year, Linde forecast sales of 12 billion euros and an operating profit of "2.3 to 2.4 billion euros."
The group agreed in September 2006 to buy BOC for almost 12 billion euros that in a deal that made it the world's leading producer of industrial gases ahead of French rival Air Liquide.
"More than a year after our acquisition of BOC, I am happy to say that our position is robust and weatherproof," chief executive officer Wolfgang Reitzle said in the statement.
Story from AFP 30 1136 GMT 10 07
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