Air Liquide sees strong first quarter revenue growth
French industrial gas group Air Liquide reported on Tuesday strong growth momentum in revenue in the first quarter of 2011 and said it expected this to be reflected in annual profit.
The group's overall revenue increased 12.4 percent on a headline basis to 3.5 billion euros ($5.1 billion), with growth 8.8 percent on a comparable basis.
Revenue rose by 15.4 percent in the main gas and services division to 3.1 billion euros, or 11.4 percent on a comparable basis.
"This first quarter is characterised by strong growth in revenue from Gas & Services, which logged its highest-ever sales figure. It is a confirmation of the growth momentum undertaken by the group and of the positive outlook for gas-consuming markets," chief executive Benoit Potier said in a statement
The company said it had signed new business contracts at a strong pace.
Air Liquide said it had also achieved 60 millions of savings in the first quarter and confirmed its 2011 cost savings target of 200 million euros.
"In this context, Air Liquide is confident in its ability to continue to generate steady growth of net profit in 2011," added Potier.
© 2011 AFP