3rd-Quarter Sales And Profits Rise At BASF

28 November 1994

BASF, the first of the three major German chemical and pharmaceutical groups to announce financial results for the third quarter of 1994, has said that both profits and sales rose, with the favorable trend in the first half of 1994 continuing during the third quarter.

Group sales for the quarter were 11.4 billion Deutschemarks ($7.3 billion), ahead 9.5%, and pretax profits were 526 million marks, rising 324.2%. For the nine-month period sales grew 7.9% to 34.5 billion marks, and pretax profits rose 99.2% to 607 million marks.

"We have checked our downhill slide. Compared with the low level of 1993, BASF is clearly on its way back up," said Jurgen Stube, group chairman. "However gratifying the trend may be in the first three quarters of this year, I still have to emphasize that we are not satisfied with our earnings in absolute terms," was how Dr Stube qualified his comment, noting that in 1993 figures were extremely poor.

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