BASF's first-quarter operating profit dropped 24 percent as the firm's...
FILE PHOTO: Flags of the German chemical company BASF are pictured in Monheim, Germany April 20, 2012. REUTERS/Ina Fassbender/File Photo
Operating profit, or earnings before interest and tax adjusted for one-off items, fell to 1.73 billion euros versus a company-provided analyst forecast of 1.75 billion. Weakness in demand from carmakers, which began late last year, continued to weigh on BASF’s automotive coatings and catalytic converters businesses.
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