22 September 2006 17:38 [Source: ICIS news]
HOUSTON (ICIS news)--Air Products’ August sales increased 16% year-on-year, a dip from the 20% sales growth experienced in July, Banc of Americas (BoA) said on Friday.
Still, the company’s sales growth of 18% over the last two months compares favourably with its forecast of 14% for the current quarter, which ends after this month, said BoA.
Volume growth for liquid/bulk gases accelerated to 25% in August compared with 17% in July. Also showing year-on-year sales growth for the month were the company’s electronic (17%), and energy and process industries (25%) segments.
Air Products’ chemicals volume remained sluggish with an 8% decline in August compared with the same month in 2005.
BoA remained neutral on the Allentown, Pennsylvania-based company, which produces atmospheric gases, process and specialty gases, performance materials and chemical intermediates.
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