NewsFlashBASF Q3 net profits plunge 37.5%

30 October 2008 07:03  [Source: ICIS news]

SINGAPORE (ICIS news)--The world's largest chemicals company BASF has posted a 37.5% plunge in its third-quarter net profits to €758m ($591.24bn) due to high raw materials cost and hurricane-related losses, the company said on Thursday.

 

The German group said hurricanes Gustav and Ike in the US shaved more than $100m (€78m) off its earnings for the period, due to damage suffered at chemicals facilities in the region.

 

Sales, however, rose 13% for the quarter to €15.78bn, compared with €13.96bn year on year, it added. 

 

($1 = €0.78)

 

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By: Bohan Loh
+65 6780 4359

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