Air Liquide has released a positive financial report for the third fiscal quarter of 2010. During the period group sales were €3,043m, up 15.1% relative to Q3 2009.
The French Firm also witnessed gradual improvement in Gas & Services which saw sales increase by 11% to €3,043m. Air Liquide have attributed this upward trend to strong sales momentum in developing economies; which rose by 29% at the end of September 2010, while advanced economies saw a lesser rise of 7% over the same period.
Benoit Potier, Chairman and CEO of the Air Liquide Group, commented, “This quarter demonstrates continued growth in our sales across all economies, with the pace of growth remaining different according to regions. It also reflects a recovery in the investment cycle, as shown by the large number of new contracts signed.” Indeed, the Q3 fiscal report confirms that investments totalled €800m during the last quarter.
Potier highlighted Air Liquide’s recent prevalent investments. He said, “Total investment decisions for these new projects as at the end of September 2010 were greater than for the whole of 2009, showing our customers’ confidence in long-term projects.”
Air Liquide also reported ‘robust’ operating profit precipitated by achievement of the Company’s 2010 target €200m in savings.
“In the shorter term, business continues to be robust in our main markets and the Group is continuing to implement its efficiency and cash management programs, one of the key components of its ALMA program. In this context, we confirm our objective of continuous growth in net profit in 2010, in line with our long-term performance.”