BASF: second-quarter earnings rise on prices and volumes
(CercleFinance.com) - BASF said on Thursday that sales and earnings grew in the second-quarter, as the German chemical company was able to increase both sales prices and volumes.
Compared with the second quarter of 2016, sales rose 12 per cent to 16.3 billion euros, with adjusted net income amounting to 1.6 billion euros from 1.2 billion euros in the same period one year ago.
Outlook for 2017 was raised, with the group now aiming at EBIT before special items "considerably" above last year.
Shares in BASF were dropping 1.8 per cent at 79.9 euros on Frankfurt's DAX index after these results.
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Compared with the second quarter of 2016, sales rose 12 per cent to 16.3 billion euros, with adjusted net income amounting to 1.6 billion euros from 1.2 billion euros in the same period one year ago.
Outlook for 2017 was raised, with the group now aiming at EBIT before special items "considerably" above last year.
Shares in BASF were dropping 1.8 per cent at 79.9 euros on Frankfurt's DAX index after these results.
Copyright (c) 2017 CercleFinance.com. All rights reserved.