Linde: beats estimates in first quarter since merger

(CercleFinance.com) - Germany's Linde has posted better-than-expected profit for its first quarter, its first complete quarter since the group took control of US rival Praxair at the end of last year.


On Friday, the industrial gas maker reported operating profit of 609 million dollars for the first three months of the year, down 7% year-on-year, primarily due to the merger's costs.

On an pro-forma basis, however, operating profit was 1.2 billion dollars, up 7% compared to last year excluding FX factors, Linde said.

Pro-forma sales were 6.9 billion dollars, flat year-on-year. Excluding unfavourable currency translation effects, however, sales were up 5%, the group said.

"I'm pleased to see the combined organization off to a good start despite only one month of being fully integrated," Chief Executive Officer Steve Angel said.

The Linde share was up 1.3% at 154.4 euros in Frankfurt after the report.

Copyright (c) 2019 CercleFinance.com. All rights reserved.