LIN Linde PLC

   By Nathan Allen 
 

Linde PLC (LIN.XE) said late Wednesday that its operating profit rose in the first nine months of the year, partly as a result of a successful efficiency program and favorable macroeconomic conditions.

The industrial gas maker said operating profit in the January-September period rose to 3.30 billion euros ($3.73 billion) from EUR3.17 billion a year earlier.

Linde attributed the higher profit to improved operating efficiency, portfolio optimization, macroeconomic conditions and the introduction of new accounting standards.

However, revenue fell to EUR13.05 billion from EUR13.28 billion, largely due to currency swings, the company said.

The company confirmed its 2018 target for group revenue to increase by up to 4% and for group operating profit to increase by up to 5% after adjusting for exchange-rate effects.

Linde has completed its merger with U.S.-based Praxair Inc. but the two companies must continue to operate separately until the completion of several divestments.

Write to Nathan Allen at nathan.allen@dowjones.com

(END) Dow Jones Newswires

November 15, 2018 01:22 ET (06:22 GMT)

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