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Linde 1Q profit falls 28 percent to euro115 million

Linde 1Q profit falls 28 percent to euro115 million

German industrial gas company Linde AG said Tuesday the company's net profit fell 28 percent in the first quarter as industrial demand for its products and services waned during the financial crisis.
The Munich-based company said net profit in the January-March period fell to euro115 million from euro160 million in the first quarter of 2008, while sales for the period fell 7 percent to euro2.7 billion from euro2.9 billion.
"The global recession which began in the fourth quarter of 2008 has continued unabated into the first quarter of 2009," the company said in its report.
"There are currently no indications that the remaining part of the year will see any sustained reversal in general economic trends.
"Only if there were a significant improvement in the global economic environment as the year progressed would it be possible for group sales and earnings to reach the same level as in the prior year," the company's statement said.


Updated : 2021-07-30 16:20 GMT+08:00