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Linde beats profit expectations, misses on sales
October 27, 2017 / 5:35 AM / a month ago

Linde beats profit expectations, misses on sales

LONDON, Oct 27 (Reuters) - German industrial gases group Linde, which is striving for an $80 billion merger with U.S. peer Praxair, reported third-quarter core earnings above analysts’ forecasts and confirmed its sales and earnings targets for 2017.

Earnings before interest, tax, depreciation and amortisation (EBITDA) rose 3 percent to 1.03 billion euros ($1.2 billion), Munich-based Linde said on Friday, beating the average forecast of 1.02 billion euros in a Reuters poll.

Sales slipped 1 percent to 4.21 billion euros, missing the Reuters poll average of 4.25 billion.

Linde said its planned all-share merger of equals had so far been approved by anti-trust authorities in Pakistan, Paraguay, Russia and Turkey. It will hold a news conference at 0800 GMT.

$1 = 0.8596 euros Reporting by Alexander Huebner; Writing by Georgina Prodhan; Editing by Maria Sheahan

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