Slower Profits Growth At 9 Months For BASF
German chemical and pharmaceutical company BASF achieved profits growth of 8.8% in the first nine months of 1996 to 3.4 billion Deutschemarks ($2.26 billion). Profits growth in the first six months of the year had been 14%. The slower growth came about as a result of a decline in pretax profits in the third quarter, down 2.3% to just over 1 billion marks.
A greater contribution to profits from the health and nutrition as well as the oil and gas operations, was said to have helped the earnings increase.
Despite the disappointing third quarter, BASF is still confident that its profits for the full year will at least match those of 1995. The firm is also expecting to see a revival of business continuing into the early months of 1997.
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