Markets News

BASF says it is still unable to forecast full-year results

FRANKFURT, July 29 (Reuters) - Chemicals giant BASF said on Wednesday it still could not provide guidance for full-year sales and earnings due to uncertainty over the economic fallout from the coronavirus pandemic.

In a statement, The German group only said it does not expect operating profit before special items in the third quarter to improve significantly over the second quarter, citing a typical summer lull in August and seasonally lower demand for agricultural products.

BASF earlier this month reported second-quarter operating profit before one-off items fell 77% to 226 million euros ($265 million).

$1 = 0.8529 euros Reporting by Ludwig Burger Editing by Michelle Martin