Linde, the world's second largest industrial gas producer, reported a 12.6% gain in quarterly operating profit. This was much better than analyst forecasts for the quarter's operating profit. Another factor was the acquisition of US firm Lincare.
The operating profit for the first quarter of March was at Eur953 million or US$1.25 billion. This was higher than the average estimate forecasted by analysts of just Eur921 million during a Reuter's poll early last year.
Lincare is a service provider for oxygen and respiratory therapies to home care patients in the United States. The unit's contribution reached Eur397 million for the first quarter sales of Eur3.99 billion.
As a result of the good performance, Linde shares opened at 2.7%, which makes it the largest gainer in the blue-chip DAX Index of Germany.
The main gas business of Linde grew as against the declining profits from the firm's engineering business, helping the company's operating lift rise from 23.4% to 23.9$ this year.
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