Linde Nine-Month Profit Rises on Operating Gains, Good Economy
November 15 2018 - 1:37AM
Dow Jones News
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)
Copyright (c) 2018 Dow Jones & Company, Inc.
Linde (NYSE:LIN)
Historical Stock Chart
From Jun 2024 to Jul 2024
Linde (NYSE:LIN)
Historical Stock Chart
From Jul 2023 to Jul 2024