04 May 2012 07:24 [Source: ICIS news]
Correction: In the ICIS news story headlined "French Linde Q1 net profit rises 1.1 %, revenue up 5.4%" dated 4 May 2012, please read the headline as "Germany's Linde...". In the first paragraph please read ...German industrial gases firm... instead ...of French industrial gases firm.... A corrected story follows.
SINGAPORE (ICIS)--Linde Group’s first-quarter 2012 net profit rose by 1.1% to €287m, as sales grew by 5.4% year on year to €3.51bn, the German industrial gases firm said on Friday.
“It should be noted here that positive one-off items contributed to the high figure for the first quarter of 2011,” the company said in a statement.
Its operating profit for the first three months of 2012 was up 6.2% year on year at €808m, the company said in a statement.
Linde’s gas division had a 7.8% year-on-year increase in operating profit for the quarter to €784m, on sales of €2.86bn, up 7.3% year on year, the company said.
"We have made a good start to the new financial year and are confident of meeting our targets," said Linde CEO Wolfgang Reitzle.
"Even if global economic trends are not as dynamic in 2012 as in 2011, we continue to assume that we will achieve increases in group revenue and group operating profit when compared with the prior year," he said.
In 2014, the company is targeting to generate operating profit of at least €4bn.
($1 = €0.76)
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