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BASF Reports Strong Start to 2010; Says Recovery Remains Shaky

1:58 AM MDT | April 29, 2010 | Natasha Alperowicz

BASF says first quarter significantly improved results reflect a rise in demand on the back of the economic recovery and restocking of customer inventories. Some products were even in short supply, the company says. Income from operations before special items rose by 98% to €1.95 billion ($2.6 billion) "primarily as a result of higher capacity utilization." Sales in the first quarter of 2010 were up 26% to €15.5 billion compared with the corresponding period of last year. Earnings improved significantly in almost all divisions and measures to...

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