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BASF forecasts sales growth in second half of 2012
Feb 24, 2012, 11:39 GMT
Frankfurt - Orders at Germany's BASF were down in the final quarter of 2011 due to uncertainty over the global economy, but the world's biggest chemicals company said Friday it expected sales to pick up in the second half of this year.
Based in Ludwigshafen, the group reported net income of 6.2 billion euros (8.3 billion dollars) for 2011.
It said it aimed to top last year's record sales of 73.5 billion euros this year.
Shares in the company rose 2 per cent, to 69.90 euros, on the announcement.
'We expect the global economy to pick up speed over the course of 2012 following a moderate start,' chief executive Kurt Bock said. 'Positive impetus for the chemical industry will again mainly come from the emerging markets.'
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