BASF says oil, gas business drives profits in Q2
Friday, 25 July 2014
FRANKFURT, July 24 (AFP): BASF, the world's biggest chemicals maker, said on Thursday that profits rose in the second quarter, driven by its oil and gas business.
BASF said in a statement that its bottom-line net profit climbed by 12 per cent to 1.299 billion euros ($1.7 billion) in the period from April to June.
Underlying or operating profit grew by 13.9 per cent to 2.019 billion euros on a 0.6-per cent increase in sales to 18.455 billion euros.
"BASF's business developed positively in the second quarter of 2014," said chief executive Kurt Bock, attributing the increase to "higher sales volumes in our chemicals business," which includes the oil and gas division.