By Natascha Divac
FRANKFURT--German chemicals company BASF SE (BAS.XE) reported on
Friday a slight increase in second-quarter net profit despite lower
growth in some markets and continuing volatility in raw material
prices.
Net profit rose slightly to 1.27 billion euros ($1.39 billion),
from EUR1.26 billion in the year-earlier period, falling short of
analyst expectations of EUR1.36 billion. Second quarter sales rose
3% to EUR19.1 billion, supported by a sharp increase in volumes in
the oil and gas segment.
As a consequence of the significant drop in the price of oil,
prices declined overall, especially in the chemicals and oil and
gas segments, BASF said.
The company backed its 2015 outlook. It still aims to slightly
increase sales despite a "volatile and challenging environment,"
and expects earnings before interest and taxes before special items
at the level of the previous year.
Company shares are down 3.6% at EUR79.89 at 0720 GMT.
Write to Natascha Divac at Natascha.Divac@wsj.com
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