Germany's BASF raised its full-year profit outlook after strong demand for chemicals and farming products boosted quarterly profits at the world's biggest chemicals company by sales.
Like many peers, BASF has benefited from strong economic growth, especially in Asia, which has powered demand for basic chemicals for more than three years.
"We want to continue to grow faster than the market," BASF said in a statement accompanying its results.
Earnings before interest and tax (EBIT) before special items rose 6 percent to 1.7 billion euros ($2.5 billion), matching the average forecast in a Reuters poll of 14 analysts.
Third-quarter net profit almost doubled to 1.2 billion euros, boosted by a one-off 186 million euros tax credit following Germany's corporate tax reform. This was the 16th consecutive quarter of sales and earnings growth at BASF.
But BASF shares were weak after the results, down 2 percent at 96.34 euros at 1030 GMT, compared with a 0.8 percent dip in the DJ Stoxx European chemicals sector index.
Analysts said the results failed to excite investors with high expectations.