29 October 2013 07:58 [Source: ICIS news]
SINGAPORE (ICIS)--Linde’s nine-month net profit rose by 11.6% year on year to €997m ($1.4bn), in spite of negative exchange rate effects that weighed on its revenues, the Germany-based industrial gases and engineering specialist said on Tuesday.
Its group revenue rose by 8.7% year on year to €12.5bn in January-September this year, while group operating profit was up by 11.8% at €3bn, it said in a statement.
“During the reporting period, exchange rate effects increasingly had an adverse impact on revenue trends. In particular, the Australian dollar and the US dollar, the British pound and currencies in the emerging economies fell sharply against the euro,” the company said.
Linde is now seeking group operating profit of “around €4bn” in the full year of 2013, compared with an earlier target of “at least €4bn”, it said.
“Linde continues to assume that it will achieve a higher level of group revenue in the current year 2013 than in 2012,” it added.
($1 = €0.72)
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