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Plastics and Oil Drive BASF's First-Quarter Results; Agchems Boost Bayer
7:05 AM MDT | April 24, 2008 | Kerri Walsh and Ian Young
BASF reported first-quarter net income up 13%, to about €1.2 billion ($1.89 billion), on sales up 9%, to €15.9 billion led by strong growth the plastics and oil and gas businesses. BASF beat consensus estimates as reported by Vara Research (Frankfurt) by 6%. Ebit before special items rose by 11%, to about €2.4 billion. The chemical business reported Ebit down 7%, to €524 million, on sales up 12%, to €2.6 billion. Earnings fell as a result in a decline in margins for cracker products and decreased plant availability in the petrochemicals...
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