France's Air Liquide Expects Net Profit to Rise in 2016
February 16 2016 - 3:18AM
Dow Jones News
By Inti Landauro
PARIS--French industrial gas manufacturer and supplier Air
Liquide SA (AI.FR) Tuesday said it expects net profit to rise again
this year after its health business lifted profits in 2015.
The company said its net profit in 2015 rose 5.5% to 1.76
billion euros ($1.97 billion) up from EUR1.67 billion. Revenue
gained 6.7% to EUR16.38 billion. Analysts polled by Factset had
forecast net profit of EUR1.78 billion and overall revenue of
EUR16.43 billion.
The company said the acquisition of U.S. rival Airgas (ARG) will
boost net profit in the first 12 months following the acquisition.
Even without taking into account the Airgas consolidation, the
company will see its net profit rising in 2016.
Revenue from health-care businesses rose 8.9% to EUR2.8 billion
and now represent 17% of the company's overall revenue, up from 15%
10 years earlier. The main driver of the health division is the
home-care service, which provides medical equipment and supplies to
patients in their home.
The unit has provided new opportunities for growth as the
company's traditional business--providing gas to heavy
industries--has stagnated in Europe over the past few years.
The company has made several acquisitions in the sector over the
past few years.
Write to Inti Landauro at inti.landauro@wsj.com
(END) Dow Jones Newswires
February 16, 2016 03:03 ET (08:03 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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