Gas giant Linde posts 14% rise in Q2 profit

29th July 2011, Comments 0 comments

German industrial gases group Linde said Friday that second-quarter net profit gained 14 percent from the same period a year earlier and maintained its full-year outlook on sustained global demand.

Linde reported a net profit of 282 million euros ($402 million), on sales that gained 7.4 percent to 3.449 billion euros.

"We've seen a strengthening of demand in both our gases business and our engineering business worldwide," Linde chief executive Wolfgang Reitzle was quoted by a statement as saying.

For the first six months of 2011, Linde posted a 27.2 percent gain in net profit to 566 million euros, on sales that were roughly 10 percent higher at 6.77 billion euros, in line with analysts forecasts.

Linde expects both sales and operating profit to increase this year over the 2010 figures of 12.9 billion euros and 2.9 billion euros, respectively.

The group reported strong growth rates in China and South America, but also noted a recovery of activities in the United States and Western Europe.

Lindes engineering division, which sets up and operates industrial sites, benefitted from a high order backlog that "provides a good basis for a solid business performance ... over the next two years," the group said.

© 2011 AFP

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