BASF plans plant with Algerian firm
Friday 15 August 1997
BASF has also decided against taking an equity stake in Gazprom, the Russian gas company, saying it would not enhance the joint marketing venture between the two companies.
BASF reported a 14.5 per cent rise in sales to 27.8bn German marks (pounds 9.5bn) and a 5.8 per cent increase in pre-tax profits to DM2.458bn in the six months to the end of June, in line with analysts' expectations. Earnings grew more rapidly in the second quarter than the first and the group expects to increase profits and exceed sales of DM50bn for the full year.
Profit margins in the first half were hit by the strength of the dollar, in which most of the group's raw materials are priced, according to Mr Strube. Profit contributions from oil and gas, colorants and finishing products were sharply higher, but plastics and fibres showed lower profits. Knoll, the loss-making pharmaceuticals division, has been hard hit by heavy research and development costs and an immediate return to profit is unlikely.
- 1 Autism 'caused by genetics', study suggests
- 2 What happens to your body when you give up sugar?
- 3 Why you should never make assumptions about people with autism
- 4 Tourist films plane's descent just metres above packed Caribbean beach
- 5 Have sex with your iPad thanks to the new sex toy no-one asked for
Tourist films plane's descent just metres above packed Caribbean beach
Bali nine: Welcome to 'Execution Island' – the Indonesian holiday resort where foreigners are sent to die
How Homer Simpson discovered the Higgs boson over a decade before scientists
The 'sex selfie stick' lets you FaceTime the inside of a vagina
Harrison Ford plane crash: Star Wars actor 'seriously injured' after light aircraft crash lands
Durham Free School: 'Creationism taught at' free school facing closure
Nearly 100,000 of Britain's poorest children go hungry after parents' benefits are cut
End of the licence fee: BBC to back radical overhaul of how it is funded
Ex-head of MI6: 'We shouldn't kid ourselves that Russia is on a path to democracy'
Most people think legal tax avoidance is just as wrong as illegal tax evasion, poll suggests
Nigel Farage promises Ukip will not 'stigmatise' would-be migrants – and says he wants 'everyone to speak the same language'
iJobs Money & Business
£13000 per annum: Recruitment Genius: This is an exciting opportunity to join ...
£25000 - £30000 per annum + benefits: Ashdown Group: A global leader operating...
£8 per hour: Recruitment Genius: This Pension Specialist was established early...
£30 - 35k + Bonus & Benefits: Guru Careers: We are seeking an Executive Assist...