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BASF’s operating profit falls less than expected in Q1

by ChemOrbis Editorial Team -
  • 29/04/2016 (16:09)
According to media reports, Germany’s BASF reported an 8% decline in its quarterly operating profit on the back of lower crude prices.

BASF’s first quarter operating earnings dropped to €1.91 billion, slower than Reuters’ analysts’ expectations calling for a 17% decline to around €1.73 billion. The slower than expected contraction in operating profit was attributed to cost cuts and rising orders in the company’s industrial chemicals business, which helped offset the negative effects of slumping crude prices.
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