Air Products has reported a 17 per cent increase in profits and record revenues for its third quarter.
The company, which makes industrial gases and performance chemicals, reported a net income of $191 million, 82 cents per share for its fiscal third quarter which ended on June 30.
The company had record revenues of $2,078 million, up 10 per cent over the previous year due to strong performance across the gases, chemicals and equipment segments. Operating income was up 12 per cent to $263 million, primarily driven by continued improvement in chemicals and equipment.
Sales of gases were up 11 per cent to $1,479 million, mostly because of a volume increase of seven per cent.
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