Linde: first-quarter profit up; outlook maintained

(CercleFinance.com) - German industrial gas producer Linde posted a 3.
8% rise in group operating profit for the first quarter and stuck to its outlook for 2018.

Group operating profit from continuing operations rose to 1.08 billion euros in the first three months of the year, from 1.04 billion euros a year ago. After adjusting for exchange rate effects, growth reached 12%.

"We have continued to grow and have achieved a substantial increase in our profitability," said CEO Aldo Belloni in a statement.

"The significant improvement in our group margin is the result of the efficiency measures we have introduced, continued portfolio optimisation and good macroeconomic conditions," he added.

For 2018, Linde still wants to achieve a group operating profit, after adjusting for FX factors, that is up as much as 5%.

Also, its merger with US rival Praxair is still planned to be completed in the second half of 2018.

Its shares were up 2.2% this morning, outperforming the German blue-chip index (-0.6%).

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