European Firms Post Varying Sales and Profit Performances

BASF posted substantial increases in second-quarter sales and net profits. Ebit before special items grew 6%, to €2 billion ($2.7 billion). The result “demonstrates that BASF has reached a higher level of sustainable earnings,” says chairman Jürgen Hambrecht. “We are confident that we will grow faster than the chemical market,” he says. Scheduled plant turnarounds, particularly in BASF’s petrochemical division, will shave €150 million off second-half earnings, however, BASF says. Shell and Total each posted big hikes...

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