BERLIN, July 27 (Xinhua) -- BASF, the world's largest chemical producer, raised its annual outlook after revealing impressive profit growth in the second quarter of 2017 on Thursday.
The Ludwigshafen, Rhineland Palatinate-headquartered firm surpassed expectations as its Q2 operating profit (earnings before interest and taxes) rose by 32 percent to 2.3 billion euros. Analysts had expected a slightly lower operating profit of 2.2 billion euros.
Gross revenue between April and June rose by 12 percent to 16.3 billion euros, broadly in line with expectations.
BASF CEO Kurt Bock now forecasts a marked improvement of its annual operating profit by at least 11 percent compared to the previous year. Bock indicated a goal of at least six percent growth for gross revenues.
