U.S. News

Air Liquide First-Half Profit Rose 16%


Air Liquide, the world's second-largest industrial gases company, said Friday that net income rose 16% in the first half and it expects to report earnings growth of at least 10% in the full year.

Net income rose to 556 million euros ($760 million) in the six months through June 30 from 480 million euros in the same period a year earlier, the company said in a statement. Revenue advanced 2.7% to 5.6 billion euros ($7.65 billion).

Air Liquide did not break out second-quarter earnings.

"In the second half, revenue is expected to continue to grow in line with the second quarter trend," Air Liquide said. Still, the company expects to incur "restructuring costs, without any exceptional gains, and financing costs will increase."

The stock dipped 0.3% to 93.43 euros ($127.73) in Paris. Air Liquide shares surged last month on rumors that the company could be the subject of a takeover offer from buyout firm Kohlberg Kravis Roberts.

David Buik of Cantor Index, a spread betting company, said at the time that Air Liquide was exactly the kind of business that would fit snugly into KKR's portfolio.