Industrial gases group BOC today said a strong performance from its global gases operations had helped it post an 18.5% rise in half yearly operating profits to £273.8 million.
The Surrey-based company said both its global gases businesses had performed well and the recovery at its BOC Edwards semiconductor arm had picked up.
The group, which employs 46,000 people in more than 50 countries, said efficiencies and increased activity helped it boost turnover and operating profits in its process gas solutions business, which supplies oxygen and other gases by pipeline to the oil refining, chemicals and steel industries.
The group is planning to commission new plants for the business which it said would support accelerated growth.
Significantly better operating profits in its industrial and special products division, which supplies medical gases and other specialised products in cylinders, were helped by a particularly strong performance in the south Pacific region.
It was benefiting from an upturn in key economies worldwide, the group said.
Margins at BOC Edwards, which provides products and services to the semiconductor industry, had suffered from the weaker US dollar, it said.
But improved order intake for semiconductor and flat panel equipment was expected to support further growth in the division's turnover and profits in coming months.
Thursday May 13, 2004
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules hereComments are closed on this article