People & Business :: Companies
Linde Reports Lower Sales and Profit; Adopts Cost Reduction Measures
2:19 AM MDT | May 5, 2009 | Natasha Alperowicz
Linde's sales and earnings were down in the first quarter of this year compared with the prior-year period due to the "significant weakening in the global economy". Operating profit was 10.6% lower at €538 million ($713 million) on sales 7.6% down at €2.7 billion. "We are still comparatively stable, despite the fact that also we are being affected by substantial falls in demand," says Wolfgang Reitzle, CEO. A swift recovery is unlikely, he says. Linde will therefore accelerate the implementation of...
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