AI Air Liquide SA

   By Nathan Allen 
 

Air Liquide SA (AI.FR) said Thursday that profit dropped slightly in 2018, partly because of unfavorable currency swings.

Net profit at the industrial-gas supplier fell 3.9% to 2.11 billion euros ($2.39 billion) from EUR2.20 billion a year earlier. However, profit rose 4.2% compared with 2017's recurring net profit, the company said.

Revenue for the year rose to EUR21.01 billion from EUR20.35 billion, Air Liquide said.

Analysts had forecast net profit of EUR2.16 billion on revenue of EUR20.83 billion, according to a consensus compiled by FactSet.

Synergies from Air Liquide's takeover of Airgas were achieved a year ahead of schedule, and the group now targets EUR400 million in cost savings in 2019.

Air Liquide said it expects to post net-profit growth in 2019, calculated at a constant exchange rate.

Write to Nathan Allen at nathan.allen@dowjones.com

(END) Dow Jones Newswires

February 14, 2019 01:52 ET (06:52 GMT)

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